2012 Sundowners ridge AGM report

  1. Welcom
  2. Overview
    • Last AGM 2010, no AGM in 2011, waiting for audited financials.
    • Problems with Constantia, late payments, interest etc.
    • Looked at other managing agents.
    • Scorpions closed down Constantia, we immediately moved to Status mark, and informed owners to pay money to Statusmark.
      • We lost R100k savings, with other expenses in the region of R160k.
      • Curator appointed to sort things out, going very slow.
      • Once done we can lodge a claim with estate agents board.
    • Moved to Statusmark, but quickly realised that there books was worse, money again in a pooled trust account.

    • Move do Justus J1A1 - with our own account at Standardbank.

      • Ben does the payments
      • Justus reconciles the account every month.
  3. Thank committee.

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