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Brookstone Partners Morocco: Two Directors Resign

Michael Toporek and Matthew Lipman have announced their resignation as directors of the investment fund Brookstone Partners Morocco. This resignation comes after “a loss of trust between the shareholders,” say the two in a note. Thus, Matthew Lipman also resigned from his position as Deputy Director General.

The two now ex-administrators say that “these resignations are justified by the alarming conclusions of an expert report that highlighted acts of abuse of social good, misappropriation, fraudulent use of the funds of the company contrary to its interest and its object … “. As a reminder, a dispute arose between the CEO of Platinum Power and Brookstone Partners Morocco, Omar Belmamoun, his partner Michel Toporek, the US shareholder of Platinum Power.

According to the resigning members, “the minimum number of directors required by law and by the articles of association of the company is no longer attained, leading, to the invalidity of the Board of Directors which must be reconstituted”. The CEO of the company will have to convene a general meeting “within thirty days from today for the reconstitution of the Board of Directors and the appointment of a new CEO”.

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