article titled <www.moneyweb.co.za/in-depth/investigations/sharemax-rescue-vehicle- on-the-brink-as-creditors-circle/> Sharemax rescue vehicle on the brink as creditors circle (see our previous post on this in both of the Facebook page and the web site)
This response has also been published in a further Moneyweb article titled <www.moneyweb.co.za/in-depth/investigations/nova-trustee-takes-on-sh aremax-rescue-vehicle-board/> Nova trustee takes on Sharemax rescue vehicle board
See www.moneyweb.co.za/in-depth/investigations/nova-trustee-takes-on-sha remax-rescue-vehicle-board/
and www.moneyweb.co.za/wp-content/uploads/2025/07/JPT-response.pdf
Listen also to this podcast on the topic in RSG’s Geldsake: iono.fm/e/1572350 where Tromp gave further inputs
Note: only available in Afrikaans. If English or other language speakers require assistance, they should, please, engage with family members or others, eg; their financial advisor, for an interpretation
In the event that the above have been placed behind a paywall, access here:
<www.ndcag.co.za/go/202506101> www.ndcag.co.za/go/202506101
<www.ndcag.co.za/go/202506102> www.ndcag.co.za/go/202506102
Where is this going?
Liquidation of Nova is not the best option because of the lack of funds to repay the Debenture Holders who are not even first in line. They rank behind Sars and other preferential creditors
Leaving the company in the control of the present directorate cannot, by any stretch of the imagination, be seen as a viable future that can deliver repayment
Placing the company in curatorship (meaning suspension of the current directorship) might be an option but, given the apparent insolvency, how long will it take to recover, stabilise and grow the company to the point of achieving debenture repayment capability?
Are the outcomes of the CIPC and its investigation into the alleged illegalities and irregularities behind the 2010 shutdown of Sharemax and other property syndication companies and separately, into Nova over its failures, the only hope? Can there be any hope in this connection as long as the CIPC’s Interim Report remains unreleased thus preventing any progress towards an eventual beneficial outcome for the investors?
What’s needed is action! The longer the delays occur, the more dangerous the possibility of intervention by “vested interests” becomes with the possibility of the whole matter being dropped under the guise of “political expediency”
It seems that there is either too much internal bureaucracy at CIPC that is hindering the release or that there is too much opportunity for outside agents – those who might be named, if not implicated, in the report – to interfere and/or that, within CIPC there is too much concern for the possible reputational damage that might be the lot of certain persons and entities with the organs of state that will become apparent once the Final Report eventually places all of the past skullduggery in the public domain!