Released - 08 August2018
1. Special General Meeting
A special general meeting of members has been called for 22 August 2018. The venue is Amanzingwe and the time is 18h30 for 19h00.
The purpose of the meeting is to share information and discuss:-
- the upcoming court proceedings and the appointed judge ;
- the expert reports filed by the claimants;
- additional funding, including by means of loans from fully paid-up members; and
- the concept of reducing the number of unrepresented properties by soliciting contributions from surrounding neighbours.
We shall also discuss and vote on two resolutions:-
1) Membership representation at the trial;
2) Handling of any refunds.
This is going to be a very important meeting and a good turnout is vital.
A formal notice of the meeting and of the resolutions will follow shortly. The LCAG constitution (clause 6.5) requires notice, in writing, to be given to members not less than 7 days before the date of the meeting.
2. Power of Attorney (POA)
LCAG cannot represent you in court unless it has your POA. (If LCAG were to represent a property, without a valid power of attorney, it would be misrepresentation and possibly fraud.) If your property is registered in the name of a trust, close corporation, or Pty Ltd company then LCAG also needs a resolution from that body confirming that the person signing the POA is empowered to do so.
There are still approximately 170 POA’s outstanding and some that we do have, from trusts etc, are not supported by resolutions. Very obviously, if LCAG receive them all in the last few days before the court action commences, on 12 September, then they are not all going to be processed in time. The deadline for submitting POA’s (and resolutions if appropriate) is midnight 22 August 2018.
IF YOU DO NOTHING ELSE, MAKE SURE LCAG HAS YOUR POA.
Blank forms were attached to the November 2017 and December 2017 newsflashes and they are on the web site www.broederstroomlandclaim.co.za (no password is required).
If you have not recently completed and submitted these forms, PLEASE DO SO NOW and remember that one POA is required for each portion owned.
3. Status of the exercise to get a court hearing.
The claimants expert witness reports have now been filed. Their content will be discussed at the forthcoming special general meeting.
Please talk to your neighbours and encourage them to pay their outstanding subscriptions.
After two expensive months (from the legal point of view) LCAG funds in the bank and in the money market (interest bearing) amount to R818 thousand. As indicated in the June newsflash the budget has now been redrawn on the basis of fresh estimates supplied by Peet and outstanding legal costs (now with some contingency AND allowing for the preparation of the cost application) are estimated as R1440 thousand. Our current budget projects an eventual shortfall of R515 thousand.
Subscription debtors still amount to over R900 thousand.
The above matters are updates to the recent previous newsflashes and, for clarity, should be read in conjunction with them.
As a formality I should like to record that the opinions stated above are my own and are made without prejudice to any legal or any other position that may exist insofar as the Broederstroom Land Claim is concerned.
26778 Land Claim Action Group.
Our bank account details
26778 Land Claim Committee;
Standard Bank; Van Der Walt Street PTA.
Clearing Code 010145;
Cheque account 410776882.
Please fax deposit slip to 086 656 3016. Please use your membership number as a reference.
The opinions expressed in this newsletter are my own and do not necessarily represent those of the Committee or of the appointed legal team.