Lawyers acting for Fidentia boss J Arthur Brown say they are going to keep a close eye on curators as they unravel the affairs of the troubled asset-management firm.
”We intend to watch the curators closely because our client’s sole focus is to ensure that investors are paid in full,” Brown’s Johannesburg-based attorney, John Hunter, said in a statement on Wednesday.
He also said Brown’s reason for not opposing Tuesday’s final curatorship order in the Cape High Court was that ”we have negotiated and reached an undertaking to work with the curators”.
”Mr Brown had a very good chance of successful[y] defending the granting of the final order, but it was decided not to proceed at this stage for specific strategic reasons,” Hunter said.
He quoted a letter from joint curator Dines Gihwala dated Monday, in which Gihwala said the curators would keep Brown ”fully apprised of our progress regarding the curatorship process”.
”If and whenever there is a possible disposal, we shall certainly inform him so that he could possibly assist with getting a better price for the asset which is the subject of the possible sale,” he quoted Gihwala as saying.
Hunter said Brown and his legal team intend to keep a very close eye on the curators ”as they attempt to honour their promises of good intent”.
”We anticipate working closely with Mr Gihwala and [fellow curator George] Papadakis as they set about their business,” he said. — Sapa