How a public housing body saved money on its tenants’ safety.
After months of waiting, and nearly 18 months of inspection, the second penalty against Novaxia, a French real estate fund manager, has finally come down:
Several independent financial advisers and asset management bosses I spoke to say they are surprised at how soft the penalties are. Especially now that Novaxia’s performance figures are becoming public and the losses on some funds are abysmal, along with a few fine blunders we will come back to in a future issue.
So much so that, according to documents I have seen, at least two complaints1 have been filed against Novaxia, one of them alleging misleading information about management fees and the withholding of essential information.
But this week, it is Zero Bullshit that is in court, sued for defamation by Laurent Villa over an issue about Tudigo, a French crowdfunding platform, published last spring.
Two property stories that have nothing to do with this week’s subject, which is also about property.