misery loves company

This news must have given you a 3 hour orgasm 😉

For the attention of investors in:

Cytonn High Yields Solutions (CHYS) LLP - Under Administration

Cytonn Real Estate Project Notes LLP(CPN) Under Administration

Copy and Paste Extract:

Investors in two struggling Cytonn Group investment funds, currently under administration, have been invited for meetings next month to deliberate on the fate of the wealth.

Cytonn High Yields Solutions (CHYS) LLP and Cytonn Real Estate Project Notes LLP(CPN) — were placed under administration by High Court judge Alfred Mabeya in October last year following an application by chief executive Edwin Dande.

The funds' administrator Kereto Marima said the maiden meetings with investors in CHYS and CPN will be held on March 4, and March 2,2021, respectively.

“Attendance of this meeting is strictly online.

Registration links and the documentation pack for this meeting will be sent to the creditors who have already submitted their proof of claim forms as well as having provided the Administrator with their updated contact form,” he said.

End of Copy and Paste Extract

My question is:

Is this a meeting for aggrieved investors or creditors?

Pray do tell.

Source Link: https://nation.africa/ke...g-cytonn-funds--3705960

https://www.standardmedi...d-by-dande-three-others

Court throws out a second case filed by Dande, three others #dominoeffect

https://www.standardmedi...-trial-over-sh11b-theft

“ The apex court’s decision means that it is the end of the road for former Britam managing director Edwin Dande, Elizabeth Nkukuu, Shiv Arora, and Patricia Wanjama who have been battling for eight years to stop their prosecution.

“We find that their application to stop the trial lacks merit.”

The disputes started in October 2014 when Britam Ltd made a complaint to the Director of Criminal Investigations (DCI) alleging that the former managers had fraudulently misappropriated over Sh1 billion before resigning from their positions and starting the rival investment company.

At the time of their resignation, Mr Dande was the managing director, Ms Nkukuu was the portfolio manager, Ms Wanjama was the head of legal and assistant company secretary and Mr Arora was an investment analyst.

Investigators then said they established that there were payments to various companies totaling Sh1.1 billion prepared by Mr Arora, reviewed by Ms Nkukuu, and authorised by Mr Dande but which were not approved by Britam Ltd’s board of directors.“