The Pretoria High Court on Tuesday, at the instance of the Financial Services Board (FSB), placed the business of Dealstream Securities (Pty) Ltd into curatorship.

Dealstream, a brokerage that dealt in derivatives, closed its doors in September.

Bernard Levenstein was appointed as the curator with certain powers and responsibilities, among others to report back to the High Court on Tuesday November 18 2008, the FSB said in a statement.

FSB spokesperson Russel Michaels said the order of curatorship was issued notwithstanding a provisional winding up order granted against the company by the Witwatersrand High Court late on Sunday evening.

"The return date of the provisional order of winding up is the same as that of the curatorship order, namely November 18 2008.

"The two orders will therefore run concurrently with one another until the matters come before court again.

FSB collaboration

"The FSB will in collaboration with the legal representatives of investors in Dealstream decide what will be best for investors when the matter will be heard by the court on November 18.

"Investors may rest assured that everything will be done in their interests by both the liquidator and the curator. As these officers will be occupied with an immense task of unravelling the affairs of Dealstream, they should be allowed to do so without interference. Investors are requested not to contact either the liquidator or curator.

"Further public communication with investors will be issued by the FSB following reports received from the curator," the FSB said.

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