THE
CORPORATE
CODES
Settlement Discussions
Three meetings took place between Frangos and Lazarus to establish whether there was a basis for settlement. The discussions failed for two reasons. Frangos did not believe that he was empowered to settle matters relating to allegations of irregularities on behalf of shareholders, and the discussions were overtaken by events when the state appointed inspectors and mandated them to investigate Corpcapital under Section 258 of the Companies Act.