Cash Plus Manager threatened

THe manager who brought application to have Cash Plus placed in receivership, has been threatened. She is now asking Cash Plus(in receivership) to now provide or pay for her security. The claim for compensation has been served on the co-receiver manager, Kevin Bandoian.

The application that she brought, that led to Cash Plus being placed in receivership, is also now being challenged. Power 106 reports that that matter comes before the court on June 23, 2008, RJR says June 12, 2008.

Cash Plus’ lawyer, Mr. Beswick, contends that the former manager was a employee and as such, under the Companies Act had no legal grounds to do so.

The general public must be reminded once again that it was Carlos Hill that announced to the Nation, via the Print and Television media, on March 30, 2008 that Cash Plus would be seeking to have or had a temporary manager appointed.

The Gleaner of Sunday March 30, 2008 reports, “However, in a paid statement in today’s Gleaner, the company states that it was unable to meet its deadline because of the lack of banking facilities available to it.

It claims that the court has already given approval for the appointment of a temporary manager and says it will commence disbursements to its lenders on April 14.”

In appears that the documents were lodged the Friday evening but what ever the case the application was granted on Monday March 31, 2008. In fact, by April 1, 2008, the eceiver was in place and at work.



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