Dear Creditors

Welcome to Summit Trust.

Kindly be advised that Jochen Eckhoff and Mogamed F Bardien will be attending to the liquidation of Prop Plus 35 (Pty) Ltd (In Provisional Liquidation) “Prop Plus 35”. Furthermore, all communications regarding this estate (progress reports, creditor reports, meeting of creditors etc) will be done via this online estate profile, the Government Gazette and one or more newspapers circulating in the district in which the company was registered or had its main place of business.

Kindly be advised that Prop Plus 35 was provisionally liquidated on 31 October 2019.  Furthermore, The Master of the High Court, Cape Town, “The Master” appointed Jochen Eckhoff (Summit Trust) and Mogamed F Bardien as Provisional Liquidators of Prop Plus 35 on 26 November 2019. It is the duty of the Provisional Liquidators to take control of the company’s assets and not to report on the company’s affairs. The Liquidators will submit a formal report at the second meeting of creditors and contributories in terms of section 402 of the Companies Act No. 61 of 1973.

Further instructions will follow if the provisional order of liquidation is made final on 29 November 2019.

The provisional order of liquidation was made final on 29 November 2019. The Master will now convene by notice in the Gazette, a first meeting of the creditors and members of the estate for, inter alia, the proof of their claims against the estate. The Master shall publish such notice on a date not less than ten days before the date upon which the meetings is to be held and shall in such notice state the time and place at which the meetings is to be held.

Kindly download the claim form which you will see on the right of your screen. The claim must be completed, signed, commissioned and supported with documents proving your claim. If the claim is in your personal capacity then you must complete the power of attorney for a representative, who will prove your claim at the creditors meeting, but if Prop Plus 35 owes a company money which you represent then both the company resolutions and the power of attorney, attached to the claim, must be completed. If goods were sold and delivered to Prop Plus 35 on an open account then a statement must be submitted in support of the claim showing the monthly total and a brief description of the purchase and payments for the full period of trading or for the period of 12 months immediately before the date of liquidation, 22 October 2019, whichever is the lesser.

The claim must be emailed to our offices, stephan@summittrust.co.za, within 14 days from 20 March 2020. If the claim is correct, we will advise you to deliver or courier the original claim to our offices: Summit Trust, 2nd Floor, 155 Loop Street, Cape Town.

Kindly be advised that all meetings of creditors and members, enquiries and activities pertaining to our estates will be suspended until further notice. We will continue to closely monitor the development of the Coronavirus (COVID-19) outbreak and remain alert about potential risks to our estates and our clients’ interests. We will strive to mitigate any damage suffered by all interested parties, due to these testing times, to the best of our abilities. We will keep you informed.

The first meeting of creditors and members was successfully held and closed on 22 January 2021 at the Master’s Office, Cape Town at 09h00. The Liquidators shall, within three months, convene the second meeting of creditors and contributories. The purpose of the second meeting of creditors and contributories is to prove additional claims against the estate, adopt resolutions and to table a formal report to creditors and contributories. The time, date and place of the second meeting of creditors and contributories will be made available on this website.

Kindly be advised that the Government Printing Department is experiencing technical issues with the publishing of the Government Gazette, which in turn affects both the Master of the High Court as well as Summit Trust’s ability to, inter alia, convene meetings of creditors, publish notices of inspection of liquidation and distribution accounts and publish notices of confirmation of liquidation and distribution accounts. In this regard, please see attached correspondence from the South African Restructuring & Insolvency Practitioners Association (SARIPA) and the Government Printing Department’s response thereto.

The second meeting of creditors and contributories will be held at Magistrate’s Court, Wynberg on 22 April 2021 at 09h00.

The second meeting of creditors and contributories was successfully held and closed. The Liquidators will now proceed to wind-up the company in accordance with their report and resolutions adopted at the second meeting of creditors and contributories. The first account will be submitted by 22 July 2021.

The First & Final Liquidation and Distribution Account was confirmed by the Master on 14 July 2021. The Liquidators will now proceed to distribute the assets of the company in accordance with the First & Final Liquidation and Distribution Account.

The Master will release the Liquidators from the estate and their duties after the distribution of assets have taken place. When the Liquidators receive the Master’s release note the liquidation process will be finalized.