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.

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One Response

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

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