City Council approved process to cut ties with State Capture Linked Regiments
29 November 2018
Today, Council has approved a report authorising the City Manager to enter settlement negotiations with Regiments Fund Managers (Regiments) in order to terminate the City’s relationship with this institution, which has been linked to the nefarious state capture project.
The City has sought to end its relationship with the fund managers on the grounds of:
- The negative publicity around Regiments emanating from the 11 February 2018 article alleging links between Regiments and Gupta linked Trillian, in particular Regiment’s close association with the allegations on State Capture, which impacts on the reputation and integrity of the COJ;
- Failure by Regiments to honour the full redemption payments that were due to the COJ on 5 June 2018;