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Report June | July 2021

25 August 2021

To all Investors / Creditors,

ORTHOTOUCH AND ZEPHAN PROPERTIES (PTY) LTD (IN BUSINESS RESCUE): JUNE / JULY 2021 REPORT

BUSINESS RESCUE PROCEEDINGS:

  1. Commencement of Business Rescue: 7 November 2019.
  2. Appointment of Business Rescue Practitioner (BRP) – J du Toit: 14 November 2019.
  3. First Meeting of Employees: 27 November 2019
  4. First Meeting of Creditors: 28 November 2019
  5. Business Rescue Plan filing date: 31 March 2020
  6. Second creditors meeting: to be held once a suitable mechanism is established to conform with prevailing COVID – 19 restrictions and a Final judgement is granted in regards to the Declaratory order sought by the BRP.

BUSINESS PROGRESS

  1. The progress is similar to that reported previously since we continue to wait for a date on which the application for the Declaratory order will be heard. The opposing documentation was filed by the opposing Attorneys. We are currently composing a replying affidavit which will provide us with clarity in regard to the way forward.

LITIGATION

  1. As advised in previous reports, certain attorneys persist with litigation in flagrant disregard of the applicability of Chapter 6 of the Companies Act, and moratorium against legal action as regulated by Section 133 of the Companies Act. This continues to be vigorously defended by the Companies’ legal team.
    Class Action Litigation
  2. Litigation continues with the Applicants and Respondents having to file papers according set timelines whereafter a court date shall be provided for the application to be heard.
  3. The Litigation status report, in terms of the Companies Act, pertaining to all litigation matters has been published and is available inter alia via the Orthotouch website WWW.ORTHOTOUCH.CO.ZA

HIGHVELD SYNDICATION INVESTORS / SHAREHOLDERS:

For all enquiries relating to investments, the following contact details are available:

Administrative Manager: Sanja Elzerman
087 997 0545 or 011 465 7010
admin@orthotouch.co.za

Yours faithfully
Jacques Du Toit
Director & Senior Business Rescue Practitioner
DTB Du Toit Business Rescue Practice
B.Proc, Dip. Tax, Attorney, Notary, Conveyancer

June - July 2021 Report