Please Call Me inventor and financial backers fight over Vodacom payout

bit late for that surely. he should have never agreed to that % in the first place.
 
The inventor of Vodacom’s*Please Call Me service has cancelled an*agreement with a group which funded his legal battle against the mobile operator, according to a report by*BDLive.


He was NOT the inventor.
 
So he's doing to his backer what Vodacom did to him.
 
And the saga continues. How many more people are going to claim a piece of the pie? At this pace he's going to have nothing left.
 
‘Please Call Me’ inventor cancelled contract with backers to keep money for himself.

"Please Call Me inventor Nkosana Makate cancelled an agreement with the backers who funded his legal fees in his challenge against Vodacom so that he could keep the entire payout for himself.

This was claimed on Tuesday by one of his backers‚ Christiaan Schoeman‚ after the North Gauteng High Court ruled that 50% of Makate’s payout be kept in a trust of his attorneys’ account."

http://www.heraldlive.co.za/please-call-inventor-cancelled-contract-backers-keep-money/
 
I'm waiting for some patent holder to sue him for it all once he's got it:D
 
Just keeps digging his hole deeper doesn't he. This idiot will be wrapped up in court battles until the Sun burns out.
 
This guy is getting greedy. His legal counsel sterling rand is backed by investors to pay for the legal costs & a share in the outcome, in order to procure their services he would have had to enter into a contract with them, he's now renegading on that contract. He would have never been able to foot the bill for the legal expenses backed by the investors in this case.

I hope he gets his ass handed to him.
 
This guy is getting greedy. His legal counsel sterling rand is backed by investors to pay for the legal costs & a share in the outcome, in order to procure their services he would have had to enter into a contract with them, he's now renegading on that contract. He would have never been able to foot the bill for the legal expenses backed by the investors in this case.

I hope he gets his ass handed to him.
Depends how the agreements were set out and on if they followed through with them. Seems he had multiple backers at various stages with each one falling out at some stage based on risk. This sounds all too much like how old "friends" suddenly start showing up again after someone wins the lotto. :p
 
This sounds all too much like how old "friends" suddenly start showing up again after someone wins the lotto. :p

Not the same scenario, to quote,

Raining Men

Christiaan Schoeman, one of Nkosana Makate’s financial backers, made the claim after the High Court in Pretoria ruled that 50% of Makate’s payout be kept in a trust of his attorneys’ account.

Schoeman filed an application to interdict Makate’s lawyers from representing him in payout negotiations with Vodacom that were ordered by the Constitutional Court.

Makate said Schoeman only paid R2.4 million for his legal fees, and agreed to a reduced 53% cut of any settlement from Vodacom – but Schoeman did not deliver on his promises.

Sterling Rand

Sterling Rand asked Vodacom to “withhold at least 50% of any settlement”, as it is concerned that Makate and his lawyers, Stemela & Lubbe, will agree to a deal that excludes Sterling Rand.

It is estimated that Makate may be entitled to around R10.5 billion following the court ruling, with Sterling Rand due half the amount for taking on the funding risk, stated the Mail & Guardian.

If Vodacom does not agree to the request, a court application will be filed by Sterling Rand.

I get the idea that Makate is being greedy, he had agreed to a contingency agreement with his legal representatives, Stemela & Lubbe, on which the High Court in Pretoria has ruled that 50% must be kept in the attorneys trust account. This while he has obtained additional backing, likely based on a similar agreement as with his legal team, contributed by various backers.

Once the money is in the attorneys account then the backers has to re-engage through legal means, this while a ~50% cut was agreed to.

Makate and his legal team is in action with an exit strategy, that is why Raining men and Sterling Rand wants to interdict Makate’s legal team or Vodacom. This thanks to the abovementioned High Court ruling.

Wait until the other backers are demanding their contract terms…
 
Not the same scenario, to quote,

Raining Men



Sterling Rand



I get the idea that Makate is being greedy, he had agreed to a contingency agreement with his legal representatives, Stemela & Lubbe, on which the High Court in Pretoria has ruled that 50% must be kept in the attorneys trust account. This while he has obtained additional backing, likely based on a similar agreement as with his legal team, contributed by various backers.

Once the money is in the attorneys account then the backers has to re-engage through legal means, this while a ~50% cut was agreed to.

Makate and his legal team is in action with an exit strategy, that is why Raining men and Sterling Rand wants to interdict Makate’s legal team or Vodacom. This thanks to the abovementioned High Court ruling.

Wait until the other backers are demanding their contract terms…
We aren't getting the whole story here. We don't know if they backed him all the way or only up to the appeal process and not including it. The court would need to decide what everyone is entitled to.
 
We aren't getting the whole story here. We don't know if they backed him all the way or only up to the appeal process and not including it. The court would need to decide what everyone is entitled to.
Even if they only backed him up to the appeal proccess, they should be paid back their fair share.
 
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