Today was a madhouse, and the things that I wanted to do had to be left aside.
On Tuesday I mentioned that there was a clause in EDWAFIN's prospectuses, that states that they have to return the investment funds if they defaulted on their obligations. Unfortunately, I only had access to paraphrased versions of the clause as they were published in the glossy brochures. That is not ideal and the attorney handling the matter for me, also needed an original copy.
Thus I set out trying to obtain copies of the respective prospectuses. What I thought would be easy, was not so easy at all. Yes, I know - freedom of information, and so on, but reality is different.
First, I tried the obvious people: EDWAFIN. "No,I could not get a copy but was welcome to peruse it on their premises in Durban" (600km from where I live). I remember so well the day when we signed up and the agent promised us a copy of the prospectus and the regular financial statements (this is also specified in the prospectus). The good old days.
The next logical place was the DTI, or more correctly its subdivision, CIPRO. First I was told that only accounts could apply, then I was told that I could get the documents over the internet - neither worked.
But today I received them in the mail, compliments of CIPRO. Four hefty envelopes filled with assorted documents. Nevertheless, after an hours sorting we finally have copies of the two prospectuses that pertain to my debentures. As soon as this site is open to the public, I will give more details about the documents and how you can obtain copies of my versions.
The upshot is that my attorney is now happy (important), and that I have a literal version of the clauses concerned. See below (please give the Scribd engine time to load - at the time of writing this there seemed to be a problem with the images. A readable copy of this document may be downloaded by following the links at the bottom):
Events of Default Clause 12 Prespectus
On Tuesday I mentioned that there was a clause in EDWAFIN's prospectuses, that states that they have to return the investment funds if they defaulted on their obligations. Unfortunately, I only had access to paraphrased versions of the clause as they were published in the glossy brochures. That is not ideal and the attorney handling the matter for me, also needed an original copy.
Thus I set out trying to obtain copies of the respective prospectuses. What I thought would be easy, was not so easy at all. Yes, I know - freedom of information, and so on, but reality is different.
First, I tried the obvious people: EDWAFIN. "No,I could not get a copy but was welcome to peruse it on their premises in Durban" (600km from where I live). I remember so well the day when we signed up and the agent promised us a copy of the prospectus and the regular financial statements (this is also specified in the prospectus). The good old days.
The next logical place was the DTI, or more correctly its subdivision, CIPRO. First I was told that only accounts could apply, then I was told that I could get the documents over the internet - neither worked.
But today I received them in the mail, compliments of CIPRO. Four hefty envelopes filled with assorted documents. Nevertheless, after an hours sorting we finally have copies of the two prospectuses that pertain to my debentures. As soon as this site is open to the public, I will give more details about the documents and how you can obtain copies of my versions.
The upshot is that my attorney is now happy (important), and that I have a literal version of the clauses concerned. See below (please give the Scribd engine time to load - at the time of writing this there seemed to be a problem with the images. A readable copy of this document may be downloaded by following the links at the bottom):
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