Within the absence of regulatory motion in opposition to the Mirror Buying and selling Worldwide Ponzi scheme, civil liquidation proceedings proceed.
The most recent replace is a remaining liquidation order, granted June thirtieth.
The ultimate liquidation order follows a June fifteenth listening to, whereby judgment was reserved.
In the event you’re like me and are unfamiliar with South African liquidation legislation, a remaining order permits the “appoint(ment of) a liquidator to liquidate the property of the corporate and pay its liabilities.”
In brief Mirror Buying and selling Worldwide’s South African victims are one step nearer to getting a slice of seized property.
The crown jewel of these property is over 1200 BTC. My Broadband report;
Reportedly this bitcoin has already been transformed to fiat foreign money. This was achieved earlier than the current crash within the bitcoin worth, that means that the liquidators might have already recovered round R1 billion on behalf of MTI’s collectors.
A billion rand involves ~$69.9 million USD. Complete Mirror Buying and selling Worldwide investor losses are believed to high $500 million.
Trying ahead;
An intervening software by the liquidators to have MTI declared an illegal enterprise was postponed till 8 September 2021.
Those that want to oppose the liquidators’ intervening software have till 30 July to file their answering affidavits.
The liquidators then have till 13 August to file responding affidavits and should file their heads of argument earlier than 24 August.
Clynton Marks, who’s believed to have run MTI along with his spouse Cheri, tried to remain liquidation proceedings earlier this month.
South African authorities gave the impression to be working in the direction of apprehending the Marks late final yr.
All through 2021 nonetheless, authorities have made no strikes or introduced any additional updates.
The Marks stay at massive. Johann Steynberg, Mirror Buying and selling Worldwide’s CEO, fled South Africa in December 2020.