Cash Plus Receiver Stays

Carlos Hill has failed to get the Supreme Court to overturn the decision to appoint the receiver/manager. Carlos Hill and his legal team had brought their case to court claiming that the receiver was wrongly appointed since the person who brought it request was not a company director and therefore not rightly empowered.

The matter was quickly ended as the liquidator, whose power under the law supersedes the owner, took over the proceedings and re-drew the claim. A liquidator was appointed on June 27, 2008 as a result of an court action brought by the Premier League Clubs Association(PLCA) in June 2008.

This latest turn of events clears the way for the co-interim recover/manager to present his report on the status of Cash Plus on August 8, 2008. It is hoped at that time the Receiver/Manager will be able to detail the amount of money available, what actions will be taken to recover funds and when investors will be able to get payments.


One Response

  1. What now? is arrangement being made for people to start getting their money.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: