Mayfair Speculating about to stop

Len Sham wrote: To get all those horses to a dispersal sale is going to cost someone a lot of money....to continue feeding and looking after the horses another large amount .. I don't think a bank or anyone outside of racing understands the risk in getting an application of whatever against horses and again what value do they put on the horses .

Use part of the alleged 3 bar Tekkie Town paid for Legal Eagle.

The point is the bank who gets an application stands to pay for the costs of the dispersal.

Len Sham wrote: The point is the bank who gets an application stands to pay for the costs of the dispersal.

Len the point is the bank or rather banks who get the application are entitled to investigate the sale of Mayfair assets prior to the application being granted. In this way the liquidator ensures that the creditors get a fair shake of the stick. As what occurred in the van Vuuren scenario.

Correct not talking about any other assets other than the horses in training and the stud farm.. costs do not stop because they get a liquidation application...

100%

The question that the liquidators will be asking is where has the money for these sales gone to? Clearly if they are not in the Mayfair bank account there will be problems.

Let me ask you a rhetorical question. If your boetie buddy had bought your business and paid for it with shares that are now worth less than 90% at what the deal was done, would you be paying a premium for something he owned........? Mark my words 3 million was never paid unless Tekkie is the biggest fool born, and of that I have no doubt he isn't

I am 100% sure that like the Steinhoff balance sheet, there will be a big hole when the liquidators start their work.

While the financial institutions and authorities are investigating Jooste and his activities, would it not be the right time to investigate Jooste and his cronies at Phumelela (which includes RA and Racing Trust) and their capture of horseracing.

I recall about 10 years ago, a group of members took the RA (and its affiliates) to court in an effort to stop the capture of horseracing by this Jooste character and his side-kicks (Van Niekerk, Wainstein, Leaf, Hogg and Basel, among others). How ironic that Hogg's Moneyweb is at the forefront of the breaking news around Jooste, when the former was such a harsh critic of these outcasts (barbarians, i think he called them at the time), who tried to stop the juggernaut's capture of South African horseracing.

In the meantime, this elite group's actions, reinforced by Phumelela's Du Plessis, have short-changed the rest of horseracing resulting in stakes losses, owners leaving the game, trainers closing shop, breeders forced out, job losses and the lack of advancement in empowerment (bar a few token gestures), the sale of South Africa's racetracks, lack of transparency and attempts to monopolize betting, the breeding industry and the racing's regulator the NHA, Trust monies being used for purchasing Kenilworth etc.

Let's hope it all comes out and our horseracing can be cleaned and a new slate begins sans the royals.

I see from the Article above R1.5 billion was moved from Mayfair Speculators

Not sure why a Syndicate even has cash to move? Surely Mayfair was in the red with all their costs?

OTA no comment if I don't know the facts ... not all people in racing do everything underhanded I post under my name and am not afraid to do so...

Len we are talking about one man who has admitted to being a fraud and thief. The people he appointed can be expected to be birds of a feather.

Over the Air wrote: Len we are talking about one man who has admitted to being a fraud and thief. The people he appointed can be expected to be birds of a feather.

That's just mumbo jumbo, not a fact in sight.

Absolute Disgrace to SA racing!!!!! What next...

Mini Tycoon wrote:

Over the Air wrote: Len we are talking about one man who has admitted to being a fraud and thief. The people he appointed can be expected to be birds of a feather.

That's just mumbo jumbo, not a fact in sight.

Lmfao.

You clearly can't read son. Steinhoff now below R4 and not a fact in sight..... :lol: :lol: :lol:

STEINHOFF INT HLDGS N.V- SNH
386 -76 (-16.45%)