Wazua
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Cytonn Investments
Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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Evergrande is Cytonn on steroids.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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Debt-ridden China Evergrande Group offered three options Monday to repay retail investors in its high-yield wealth management products after hundreds of them protested overdue payments Sunday.
Investors can accept cash installments, property or investors’ payables on residential units they have purchased, according to the plan announced by Du Liang, head of Evergrande’s wealth management unit.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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Evergrandes problems causing jitters in global stock markets and cryptos. Some are speculationg that this is 2021's Lehman momemt. Evergrande attempting to make debt repayments in unfinished flats, parking spaces, debt rescheduling etc.
We have heard this story locally. Cytonn. So much for 'there are underlying assets blah blah blah
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Rank: Elder Joined: 12/2/2009 Posts: 2,458 Location: Nairobi
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My 2 cents wrote:Evergrandes problems causing jitters in global stock markets and cryptos. Some are speculationg that this is 2021's Lehman momemt. Evergrande attempting to make debt repayments in unfinished flats, parking spaces, debt rescheduling etc.
We have heard this story locally. Cytonn. So much for 'there are underlying assets blah blah blah Mr. Paul Kimani the blogger.. Have you looked at the companies portfolio.. or you just read headlines...?
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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You mean the financials that they hardly publish anymore?
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Rank: New-farer Joined: 3/12/2014 Posts: 96
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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CHYS Insolvent 
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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sparkly wrote:sqft wrote:sparkly wrote:They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn. Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages. will they also sue all the other media houses who have written all those articles listed above? I predicted that people would sue. Now @PK is running around reporting how people have sued! Sparkly wrote:Whistle blowing on what? You went to Cytonn, you signed an investment CONTRACT with them. If they don't fulfill their end of the bargain, you sue for BREACH of contract. In legal jargon this kind of a suit is called a "personam suit" i.e. you sue a particular person for the breach. This is to say there is nothing like whistle blowing on personal contracts. The most you can do is alert fellow netizens if something dodgy is going on and let everyone carry their burden. My next predictions:- 1. Cytonn Funds will not survive the run on assets. Pole for the investors.2. The regulated funds, structured as Collective Investment schemes will face massive loss of capital. People will be lucky to get out 50% of what they invested. 3. The unregulated funds are worse of without ring-fencing and any security. Total write-off is likely.4. There will be no fraud prosecutions on Cytonn directors. 5. Fund Investors will have no recourse on the real estate projects. There are priority interests on the real estate. My predictions 7 months ago. Now the high yield fund is under insolvency protection, nobody can sue or get paid without the High Court's approval. Life is short. Live passionately.
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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sparkly wrote:sparkly wrote:sqft wrote:sparkly wrote:They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn. Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages. will they also sue all the other media houses who have written all those articles listed above? I predicted that people would sue. Now @PK is running around reporting how people have sued! Sparkly wrote:Whistle blowing on what? You went to Cytonn, you signed an investment CONTRACT with them. If they don't fulfill their end of the bargain, you sue for BREACH of contract. In legal jargon this kind of a suit is called a "personam suit" i.e. you sue a particular person for the breach. This is to say there is nothing like whistle blowing on personal contracts. The most you can do is alert fellow netizens if something dodgy is going on and let everyone carry their burden. My next predictions:- 1. Cytonn Funds will not survive the run on assets. Pole for the investors.2. The regulated funds, structured as Collective Investment schemes will face massive loss of capital. People will be lucky to get out 50% of what they invested. 3. The unregulated funds are worse of without ring-fencing and any security. Total write-off is likely.4. There will be no fraud prosecutions on Cytonn directors. 5. Fund Investors will have no recourse on the real estate projects. There are priority interests on the real estate. My predictions 7 months ago. Now the high yield fund is under insolvency protection, nobody can sue or get paid without the High Court's approval. You are dancing on your grave!  Anyway this was bound to happen, where is the loudmouth CEO now. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Angelica _ann wrote:sparkly wrote:sparkly wrote:sqft wrote:sparkly wrote:They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn. Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages. will they also sue all the other media houses who have written all those articles listed above? I predicted that people would sue. Now @PK is running around reporting how people have sued! Sparkly wrote:Whistle blowing on what? You went to Cytonn, you signed an investment CONTRACT with them. If they don't fulfill their end of the bargain, you sue for BREACH of contract. In legal jargon this kind of a suit is called a "personam suit" i.e. you sue a particular person for the breach. This is to say there is nothing like whistle blowing on personal contracts. The most you can do is alert fellow netizens if something dodgy is going on and let everyone carry their burden. My next predictions:- 1. Cytonn Funds will not survive the run on assets. Pole for the investors.2. The regulated funds, structured as Collective Investment schemes will face massive loss of capital. People will be lucky to get out 50% of what they invested. 3. The unregulated funds are worse of without ring-fencing and any security. Total write-off is likely.4. There will be no fraud prosecutions on Cytonn directors. 5. Fund Investors will have no recourse on the real estate projects. There are priority interests on the real estate. My predictions 7 months ago. Now the high yield fund is under insolvency protection, nobody can sue or get paid without the High Court's approval. You are dancing on your grave! Anyway this was bound to happen, where is the loudmouth CEO now. I am not an investor or any other way connected to Cytonn. I am just pointing out how capitalism works. Insolvency by the way protects the loudmouth CEO not the hapless investors that Paul Kimani fought so hard for. Life is short. Live passionately.
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