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Equititrust?

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The fact that Amanda Blanton of Piper and Alderman signaled that they may start class action litigation was enough to tip the insurers over the edge and refuse cover to the skeletal remains of what was once EquitiRust... In Tucker and Cowans case we now have actual litigation on foot and partners of the firm being sued in their personal capacity... How any insurance company looking to provide cover views this, will, lets say be interesting to say the least...

My advice to the boys at Tucker & Cowan ‘Whoever exalts himself will be humbled, and whoever humbles himself will be exalted.”
 
Tucker and Cowan’s business plan for the “next year” must include a detailed section on HEADING TO DESTINATION F#CKED
 
Let’s not forget Tucker’s threat to declare bankruptcy in the event of a judgement against him...
 
My prediction and please take note of this, is that the Liquidator’s via their very capable lawyers Russell’s will seek preservation of assets orders against multiple parties in the litigation...
 
Some interesting activity occurring in the background that Tucker and his compatriots in litigation won’t find particularly pleasant...
 
Tucker and Cowan and especially Tucker himself must embrace the possibility that their defense must eventually need to move on from the theoretical possibility of an adverse judgement (as forshadowed by Tucker in the Federal Court Proceedings i.e. Declaring Bankruptcy) to a practical response to such an eventuality.

Risk mitigation by insurers has already reared it’s ugly head it seems...
 
The full story of McIvor and Tucker needs to be told... If you think it’s all come out, it hasn’t...

Tick Tock
 
McIvor signing off emails as the “Chief Evangelist Officer” is a telling sign indeed...

How many lives did this miscreant ruin ??? The universe has a way to balance things out and McIvor is feeling the full effects.

Many people lost their homes as a result of McIvor’s voracious greed and his attempts to “squirrel” away as much property as he could.

Double dealing borrowers, business partners, making up documents (refer to ASIC), changing documents it goes on and on...

Yet it gets worse and the full story is yet to be told...
 
If a lawyer knows his client is committing a fraudulent act and continues to defend that client in an attempt to cover up the fraud, isn’t that in itself aiding and abetting fraud ?
 
With the Federal Court Proceedings set down for trial next year, expect a media spotlight on the actions of McIvor that led to his life ban by ASIC...
 
There’s another “deal” Tucker was involved in coming under the Spotlight... Actually considering who is involved the appropriate description should be High Intensity Laser Beam... Oh David you truly were and (I mean in past) CONflicted in every sense of the word...
 
The relevancy of Tucker threatening bankruptcy, becoming a “consultant” at Tucker and Cowan and court proceedings commenced against him, and the partners of Tucker and Cowan by the Liquidator may have a wider impact.

Holders of current debt and those looking to lend to a prospective borrower in the future take into account various risk factors prior to sending the matter to a credit committee.

McIvor felt the full ramifications of this prior to the collapse of Equititrust as all banks retreated...

I guess, you make your bed you have to lie in it...




No Trust said:
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Looks like someone knows where the money is... Someone has broken the Da Vinci Code...

Note the numerical sequence of numbers for the purchase of the EPF debt 666 666

If that wasn’t a warning sign of the hell to come, thrn nothing was...
1A05DF84-965D-4F85-8417-A41515536460.jpeg
 
This Article will have some relevance to events in the near future...


“No one has lost their home because of swap rate rigging, yet ASIC has repeatedly failed to act in the face of egregious conduct that has destroyed lives – think of, say, Storm Financial. It pains me to criticise the regulator for taking on a tough case, but for ASIC to choose to fight on this particular battleground when it has shirked conflict in so many other cases strikes me as madness. ASIC’s litigation is a kabuki dance: the regulator gets to make a show of being tough on banks, yet the outcome – even in the unlikely event ASIC has a comprehensive win – will do little to protect ordinary investors or to restrain predatory financial behaviour.

The strongest argument for a royal commission into financial services is that the Australian people deserve to hear the truth about how our financial system is regulated. We are entitled to that information, and nothing short of a royal commission will deliver it. I know that if a royal commission were held, more horror stories of corruption and incompetence would emerge.

But, more than anything, heads need to roll at ASIC.

Medcraft is supported by four commissioners, three of whom first joined ASIC in the previous millennium: Peter Kell joined ASIC in 1998, Greg Tanzer in 1992, and John Price in 1999. Medcraft, Tanzer, Kell and Price have collectively governed during decades of debacles, scandals and incompetence. They are not up to the job and need to be put out to pasture.

Jeff Morris, who blew the whistle on unethical conduct at CBA financial planning yet was ignored for years by ASIC, has done more than anyone to expose ASIC’s failures as a regulator. I will let him have the final word on Morrison’s tough cop:

“The current crew at ASIC have presided over a raft of scandals absolutely breathtaking in scale. Their self-congratulatory rhetoric suggests a high degree of self-delusion, and their relationship with the banks is downright incestuous. ASIC is simply a pawn and does what it is told. To throw more money at this dysfunctional organisation in the vague hope that it will somehow improve transcends the bizarre.”

https://www.thesaturdaypaper.com.au...-roll-corporate-regulator-asic/14619384003187
 
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