Estate Agency Board obtains curator for Beyers Realty | Fin24
 
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Estate Agency Board obtains curator for Beyers Realty

Sep 30 2016 12:51
Carin Smith

Cape Town - The Estate Agency Affairs Board (EAAB) confirmed to Fin24 on Friday that it has obtained a court order appointing a curator to take control of the trust monies and accounts at Beyers Realty Group, and to investigate the company's trust affairs.

Thomas Makupo has been appointed as the curator with powers to act in terms of relief sought and interdicting the company from continuing estate agency operations. Certain other relief relating to Beyers Swanepoel Trollip himself has been postponed for filing of affidavits and argument.

The EAAB is aware of an application for liquidation of Beyers Realty and said if this is successful, a liquidator will be appointed by the court to deal with the company’s insolvent estate.

According to a statement issued on behalf of Beyers Swanepoel Trollip by his attorney David Erleigh on Friday, the company did not oppose the application "for an interim order to support the curators in speedily assisting members of the public".

"By agreement, my personal certificate as an estate agent has not been returned at this time. This will enable me to care for my baby daughter aged 10 months. I too am an innocent party," Beyers Swanepoel Trollip said in the statement.

"Despite my instructions to do a monthly audit, the company’s auditors did not uncover any irregularities; nor did another set of experienced auditors."

The appointment of a curator will not have an impact on an application by four former estate agents of Beyers Realty Group to have the company liquidated, Roux Potgieter of BM Attorneys, who acts for the four former estate agents, told Fin24 on Friday.

The applicants are owed a total of about R430 000 in commission.

READ: Application lodged to liquidate Beyers Realty Group

"I have been in constant communication with the attorneys representing the EAAB and am aware that they have launched an urgent application in the high court to have a curator appointed for the trust account of Beyers Realty. It was on the roll this morning in the high court, but I am not aware if the order has been granted this morning," said Potgieter.

Liquidation unaffected

He explained that the curator would take control of the trust account of Beyers Realty Group. Since the trust account is separate from the business account, it does not affect the liquidation application.

"So, we will proceed with our liquidation application and ultimately, if a liquidator has been appointed, will work with the curator to ensure all trust funds are recovered where possible," said Potgieter.

Potgieter explained earlier that his clients are opting for liquidation because once a company has been liquidated, any creditor can request an inquiry into the financial affairs of Beyers Realty Group as well as the conduct of its directors.

READ: Beyers Realty Group plot thickens

Beyers Swanepoel Trollip proclaimed his innocence when the discovery that about R6m had "disappeared" from the company's trust account first came to light. He said he was responsible for the sales side of the business, while his business partner and husband Leonard managed the finances along with a team of four.

"I have spent a lifetime marketing and selling real estate. This is not what I wanted for Beyers Group. I apologise to all who are inconvenienced, and assure you that I am in Cape Town doing my best to address the matter," Beyers Swanepoel Trollip said in the past.

Beyers Swanepoel Trollip and his husband are the two directors of the company. He has laid fraud charges with the police to establish what happened to his missing money. According to the police, no specific person was named in the charge.

In the meantime, rumours are doing the rounds that Leonard Swanepoel Trollip has returned to South Africa from Australia. No response has been received from Beyers Swanepoel Trollip to confirm or deny this.

Read Fin24's top stories trending on Twitter:

beyers realty group  |  property  |  liquidation
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