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Friday Jan 20, 2017

None of R8m Beyers Group deposits found

The Estate Agency Affairs Board of South Africa has painted a bleak picture of embattled Beyers Realty Group's financials, saying none of the R8 million worth of deposits for 29 purchasers and 26 tenants has been recovered.

The money was withdrawn from the company's Standard Bank trust account. Beyers was liquidated in October after millions of rand went missing from an account.

Earlier this week, liquidators confirmed they were investigating allegations that directors Beyers Swanepoel-Trollip and his husband and business partner, Leonard Swanepoel-Trollip, established an estate agency in Perth, Australia, to where they are suspected to have absconded with their one-year-old daughter.

The liquidators said some clients had invested up to R1.9m. Beyers Realty Group curator Thomas Makupo said seven of the affected purchasers submitted claims totalling R3m but were unable to refund the deposits paid into the Standard Bank account.

Makupo said attention of the affected creditors was directed to the provisions of sections 18 and 19 of the Estate Agency Affairs Act 112 of 1976 dealing with claims against the Estate Agency Affairs Board from the Estate Agents Fidelity Fund.

The liquidators had the power to deal with creditors' claims against the company.

"Attention is directed to the provisions of section 19(1) of the Act, which requires claimants to exhaust all relevant rights of action and other legal remedies available against the estate agent in respect of whom the claim arose and against all other persons liable in respect of the loss suffered by such claimant."

Makupo said 130 claim forms were issued to the known tenants and landlords who had deposited their rental deposits into the company's Absa bank account, which had a balance of about R2m.

"I have since received 40 completed claim forms from the affected tenants and landlords.

"I have made payments totalling about R650 000 to the 40 tenants and landlords between December 2016 and January 17, 2017," he said.

About 90 tenants and landlords have yet to claim the remaining R1 350 000 in the Absa account, and are encouraged to submit a form.

Trust creditors who did not receive the emailed claim forms should send an email to curator-AT-eaab.org-DOT-za, he said.

Cape Times

 
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