Former Cash Plus exec wants bodyguards

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Topic: Former Cash Plus exec wants bodyguards

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ANDREDESIGNZ

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Date: 09:52 05/28 2008

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The former Cash Plus manager, who brought the application to have the investment scheme put into receivership, has put in a claim for the company to provide her with security.

The former executive said that since she brought the application in March, her life has been threatened and she has had to relocate and quit her job.

The claim has been made against Cash Plus and the receiver/manager Kevin Bandoian.

Attorney-at-law Melrose Reid, who is representing the former manager, on Monday said she did not wish to comment on the issue as it was now before the court.

Financial report

The temporary manager has presented the audited financial report for Cash Plus to the Supreme Court.

However, the report cannot be approved until the court hears an application on June 23, challenging the legality of the receivership.

Attorney-at-law Paul Beswick, who is representing Cash Plus, contends the former executive, who applied for the company to be placed into receivership, is an employee and had no legal authority to do so.

Beswick said the receivership and takeover of Cash Plus were illegal. He is relying on the Companies Act to support his claim.

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***DK***

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Date: 10:08 05/28 2008

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