Delta financial liquidating trust


20-Mar-2019 06:39

Taking advantage of relationships in the market with both direct and vetted sources, Delta Investment Group now provides a proven system for investors to acquire discounted assets across all commercial sectors, bulk REO’s, and custom acquisitions.With a solid process of written procedures and an industry system in place, Delta Investment Group can orchestrate the most complex of asset offerings including direct and as well as non-direct vetted acquisitions.“If any actions by Orthotouch infringe upon the rights of the Highveld Syndication investors for whom we act, the necessary legal action will be taken.” Orthotouch’s attorney Natalie Lubbe did not respond to questions.

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But Bronwyn Corbett, Delta’s finance chief and operations head, said its investment team spent a lot of time on legal and other due diligences on the deal, which was two years in the making.The deal, announced last week, will see the real estate investment trust buy the property management company’s assets in the Free State and Mpumalanga for R507 million, garnered in a combination of debt and shares.The transaction is expected to come into effect in August.“The transaction was finally approved by Delta’s Investment Committee, consisting of three independent nonexecutive directors,” she said.

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Although the real estate investment trust was not involved in the looming legal showdown, its directors have decided to publish section 34 notices as protection. This suit, brought by a trust that holds the common stock of a bankrupt company formerly known as Cadant, charges several former directors with breaches of their duty of loyalty to the corporation, and charges two venture-capital groups, which we'll abbreviate to “Venrock” and “J. Morgan,” with aiding and abetting the disloyal directors. Seven weeks into the trial on liability the plaintiff rested and the defendants then moved for judgment as a matter of law.