Cash Plus Group to be wound up

RJR is reporting that Cash Plus Group Limited is to be wound up. This is the result of an action brought by the Edward Seaga led Premier League Clubs Association(PLCA). It is understood that the PLCA went to court on  June 12 and asked the court to have Cash Plus Group Limited wound up so that they could recover money owed to them.

The PLCA had earlier threaten to sue Cash Plus, but it appears Edward Seaga no stranger to liquidation followed legal advice and they opted to take this route. It appears that on June 27, the Supreme Court granted the request.

There is more to come in this is and you can be sure this ruling will be appealed.

3 Weeks to know

In the meanwhile Cash Plus Limited investors are to know in three weeks if they will be able to get back any money. the court as order the receiver to make the report public by August 8, 2008. It will outline the assets and liabilities.


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