Wellington Capital PIF/Octaviar (MFS) PIF

[seamisty]

This bororwed from Storm thread, #4806

I am certain we qualify for the same consideration;
could our PIF IAC barrack ASIC for spreading the good work, please!

http://www.businessspectator.com.au...website-pd20100414-4H8UL?OpenDocument&src=hp7

https://storm.asic.gov.au.

Simgrund if ASIC (or for that matter WC) had treated PIF investors with the same amount of intervention having been notified of our situation early in 2008 by many concerned unitholders it would not have been left to individuals to commence the Class Action.

It was only a matter of months after details of the CA were reported in the media that ASIC announced their court action against Octaviar. Coincednce? Or were they frightened of being seen as not taking action when they had been approached much earlier with the same evidence?

I was initially told by ASIC that it was not their policy to intervene on behalf of publically listed companies.Ii thought this was a total load of crap at the time because the alledged crimes/fraud took place well before PIF was listed on the NSX!

Seamisty

 

[seamisty]

Another aspect of this debarcle which I hope will come out in the public examinations is at what particular time did it become apparent that the $147mill worth of dud assets were non existant and the money had gone elsewhere?

According to the media article below, Chris Scott met with Mark Korda and MFS CEO Craig White as early as 26th Jan 2008. His adviser was Jenny Hutso.This was well before Chris Scott was appointed to the board. It also demonstrates that Jenny Hutson was possibly involved or privvy to discussions regarding MFS from when the **** first hit the fan at MFS in Jan 2008. Seamisty

http://archive.traveldaily.com.au/2008/Feb08/td150208.pdf

Fri 15 Feb 08 Page 2

Stella sale to be stymied

UNCERTAINTY about the future

of Stella Travel looks set to

continue, with action by former

S8 chief Chris Scott to throw a

spanner in the works of the

planned sale of the company.

Scott, who sold S8 to MFS for a

personal stake worth about

$300m in MFS shares, has seen his

wealth shattered by the

plummeting MFS financial position.

He’s claiming the sale of Stella

is the ‘scandal of the year’, with

the Financial Review saying he

plans to call an Extraordinary

General Meeting of MFS next

month to put a stop to the deal.

“Jenny Hutson is acting as my

adviser,” he said, claiming to

have identified individuals and

institutions who together control

52% of the company to back the

move to block the sale.

Scott says that on 26 Jan he

held talks with insolvency expert

Mark Korda and MFS ceo Craig

White about rising capital to save

the firm, and “the next thing we

know they have sold Stella.

“We are hopping mad about

this,” he said.

 

[seamisty]

NSX ANNOUNCEMENT

http://www.nsxa.com.au/ftp/news/021722703.PDF

Notification of Change of Registry
Wellington Capital Limited as responsible entity of the Premium Income Fund is responsible for registry
services. These services have been previously provided on a subcontracting basis by Computershare Investor
Services Pty Limited. The subcontracted provider of registry services will now be:
Armstrong Registry Services Limited
Level 22, 307 Queen Street
BRISBANE QLD 4000
GPO Box 897
BRISBANE QLD 4001
Telephone: (07) 3231 0050
Facsimile: (07) 3231 0099
Email: registry@armstrongregistries.com.au
Web: www.armstrongregistries.com.au
Computershare will cease to be the registry services provider at close of business on Friday 23 April 2010
and Armstrong Registry Services Limited will be the registry services provider commencing Tuesday
27 April 2010.
Unitholders with queries in relation to the investment in the Premium Income Fund should continue to
contact the Wellington Hotline on 1300 854 885 or by email investorrelations@newpif.com.au.

I posted this on the forum earlier::Jennifer Joan Hutson is a director of Armstrong Registry Services. A bit too cosy for my liking!!!!!!

Armstrong Registry Services Limited.
Armstrong Registry Services Limited provides tailored registry services solutions to listed and
unlisted companies and funds. With talented staff and first class technology, Armstrong Registry
Services Limited is equipped with the resources and skills to appropriately communicate with their
clients' key stakeholders in a personalised and timely fashion.

Seamisty

 

[seamisty]

http://www.armstrongregistries.com.au/services.shtml

Armstrong provides a complete range of registry services including:

registry management including payment of dividends, annual general meeting services, reporting, shareholder enquiry management;
capital raising and other corporate actions such as buy backs, share sale facilities, share purchase plans, takeovers and rights issues;
specialist services such as unlisted trust registry management.
Armstrong Registry Services takes a partnership approach to working with our clients and developing and understanding of our clients’ unique needs. We pride ourselves on developing products and services to the highest quality that offer the greatest value for our clients

 

[Cookie1]

More on Armstrong Registry Services from their website:


"A new provider of registry services in Australia which draws its roots from business acumen and attention to detail.

Armstrong Registry Services is a boutique registry service provider for listed and unlisted companies and trusts throughout Australia. We pride ourselves on innovation, exceptional service and the ability to provide a flexible approach in order to meet our clients’ needs."

Just how new are they? There's not even a capability for clients to log on to look at their own records. It says "client logon - coming soon" so they must be very new. I couldn't find anything about the company itself other than what they purport to do - nothing about when it started, who the directors are. Seamisty, you're amazing at being able to ferret out information! JH iooks to be trying to get her hands on every cent possible out of the PIF. It's too cosy for me, too. There's certainly a conflict of interest here!

I'd like to hear her explanation of why she's dumped Computershare! It's obvious why she did it but I'm sure her explanation would be something else!

 

[seamisty]

More on Armstrong Registry Services from their website:


"A new provider of registry services in Australia which draws its roots from business acumen and attention to detail.

Armstrong Registry Services is a boutique registry service provider for listed and unlisted companies and trusts throughout Australia. We pride ourselves on innovation, exceptional service and the ability to provide a flexible approach in order to meet our clients’ needs."

Just how new are they? There's not even a capability for clients to log on to look at their own records. It says "client logon - coming soon" so they must be very new. I couldn't find anything about the company itself other than what they purport to do - nothing about when it started, who the directors are. Seamisty, you're amazing at being able to ferret out information! JH iooks to be trying to get her hands on every cent possible out of the PIF. It's too cosy for me, too. There's certainly a conflict of interest here!

I'd like to hear her explanation of why she's dumped Computershare! It's obvious why she did it but I'm sure her explanation would be something else!

BUT WAIT COOKIE, THERES MORE!!!


Print Mail Logistics Limited Market Release
25 November 2009
Subscription for Minority Interest in Armstrong Registry Services Limited
Print Mail Logistics Limited has subscribed for a minority interest in Queensland based registry
services provider, Armstrong Registry Services Limited.
Armstrong Registry Services Limited provides tailored registry services solutions to listed and
unlisted companies and funds. With talented staff and first class technology, Armstrong Registry
Services Limited is equipped with the resources and skills to appropriately communicate with their
clients' key stakeholders in a personalised and timely fashion.
Managing Director, Nigel Elias said, 'both Print Mail Logistics Limited and Armstrong Registry
Services Limited are in the business of eff,rcient, effective and precise communication. There is a
positive synergy existing between the work undertaken by Armstrong Registry Services Limited
and Print Mail Logistics Limited. This synergy has the potential to create additional income for
Print Mail Logistics Limited'.
For further information please contact:
Nigel Elias
Print Mail Logistics Limited
ACN 103 116 856
Phone: 03 62208444
Email: nelias@pml.com.au


The plot thickens!! Seamisty

 

[gardie]

Hi all

Just read the report delivered by Balmain Triology on the old City Pacific Fund and while there has been some complaints about their lack of communication they provided significant detail including
- detail report from CEO incuding three examples of how they have worked through problem developments and achieved outcome better than what was provided for in accounts.
Update on CBA position
Financial statements
Investment committee reports (first and second meeting)

They seem to have rolled up their sleeves and got on with the job.

No stupid listing

Listened to what investors want and it also appears that they are trying to structure a process to meet the needs of people who just want funds out and those who will wait for funds and rebuild value.

Now WC someone is in the market place showing how it should be done. No silly battlefield quotes and while they have a long way to go it shows that there are alternatives out there

 

[seamisty]

Thanks to the PIF investors providing me with more detail on Armstrong Registry Services. Seamisty


WC used to be called ARMSTRONG CAPITAL LIMITED. See ASIC info on former name for WC below. Also, ARMSTRONG REGISTRY SERVICES LIMITED registered as a company on 24 August 2009.




Extracted from ASIC's database at AEST 18:36:35 on 23/04/2010
Name WELLINGTON CAPITAL LIMITED
ACN 114 248 458

ABN 45 114 248 458

Type Australian Public Company, Limited By Shares
Registration Date 12/05/2005
Next Review Date 12/05/2010
Status Registered
Locality of Registered Office Brisbane QLD 4000
Jurisdiction Australian Securities & Investments Commission

Former Name(s) ARMSTRONG CAPITAL LIMITED









Name ARMSTRONG REGISTRY SERVICES LIMITED
ACN 139 056 643

ABN 26 139 056 643

Type Australian Public Company, Limited By Shares
Registration Date 24/08/2009
Next Review Date 24/08/2010
Status Registered
Locality of Registered Office Brisbane QLD 4000
Jurisdiction Australian Securities & Investments Commission

 

[seamisty]

http://www.carneys.com.au/news/australian-financial-review/5

Another re cap from the AFR 9th july 2009


"Wellington have negotiated with the proponents that it be discontinued," Wellington Investment Management boss Jenny Hutson said yesterday. "The actual action is proceeding but not against Wellington. The action is against the PIF fund, it doesn't make sense in effect for unit holders to be suing themselves."

Yeh, thats right Jenny, so where do we stand now as a result of Wellington Capital Ltd not cooperating with our lawyers as was originally agreed to by yourself? WC was given the opportunity to provide Carneys with access to relevant PIF documentation that would assist in PIF investors to reveal the truth as to how our fund was alledgedly plundered with the possibility of making restitution to investors. We are not suing ourselves, we are suing our former responsible entity who by all accounts will be held responsible if wrong doing is proved by legal action taken on investors behalf. Assuming all was above board and complied within the correct guidelines why would there be any problems?

Early days and optimism is gradually returning to investors, a shame it is not from a management perspective but as a result of legal exposures that could well lead to possible compensation.

Seamisty

 

[selciper]

"Armstrong Registry Services Limited provides tailored registry services solutions to listed and
unlisted companies and funds. With talented staff and first class technology, Armstrong Registry
Services Limited is equipped with the resources and skills to appropriately communicate with their
clients' key stakeholders in a personalised and timely fashion..."

Delighted to read that we have yet more TALENTED
staff looking after our interests. The above guff is very similar in its presentation to the WC mission statement. PIF investors aren't all that stupid!

 

[marcom]

On Friday 23 April ASIC filed an amended statement of claim in the Brisbane Supreme Court in relation to 12122/09 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION -V- MANAGED INVESTMENTS LIMITED & others - http://www.courts.qld.gov.au/esearc...eNumber=12122/09&Court=Supreme&Location=BRISB

35 23/04/2010 Amended Statement of Claim Applicant

Looks like more evidence or more MFS people to be added???. David Kennedy must have really spilled the beans at the Liquidators Examination.

 

[seamisty]

On Friday 23 April ASIC filed an amended statement of claim in the Brisbane Supreme Court in relation to 12122/09 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION -V- MANAGED INVESTMENTS LIMITED & others - http://www.courts.qld.gov.au/esearc...eNumber=12122/09&Court=Supreme&Location=BRISB

35 23/04/2010 Amended Statement of Claim Applicant

Looks like more evidence or more MFS people to be added???. David Kennedy must have really spilled the beans at the Liquidators Examination.

'Mr King has denied any wrongdoing and to this day stands behind former MFS staff members and directors, whom he described as loyal and hardworking.'

http://www.goldcoast.com.au/article/2010/01/16/179455_news.html


I think the time has come to see just how 'loyal' former MFS/OCV staff members and directors are Marcom. Not much point in denying tabled evidence I wouldn't think.


Seamisty

 

[mellifuous]

I posted this on the forum earlier::Jennifer Joan Hutson is a director of Armstrong Registry Services. A bit too cosy for my liking!!!!!!

Seamisty

"... Perpetual’s role as Custodian is limited to holding assets of the Premium Income Fund as agent of the responsible entity. ..." [see Section 5.8, page 53 Explanatory Memorandum.] (emphasis added)

Yes, she just can't help herself .. anything to rake more and more of investors' money in her direction. I'll bet those legal actions the fund has been (or is) engaged in are a real blessing for her.

She's not getting any management fees, but that doesn't mean she's not making good money out of the fund.

I'd guess most investors wouldn't know how to make an ASIC free company search http://www.search.asic.gov.au/cgi-bin/gns030c?acn=114_248_458&juris=9&hdtext=ACN&srchsrc=1

I'd reckon no one but members of your forum know that Jenny's setting up another stream of income from the fund for herself.

I wonder if what she is doing is ethical, or whether it would pass muster with ASIC?

Not a good look with Jenny having one foot in the fund, and the other in the custodian. (no pun intended, but it does make for an interesting graphic)

..

 

[seamisty]

Business as usual at Elysium Fields!!! Shame life does not go on as normal for thousands of PIF investors that contributed financially to this world class polo complex. Er, how much was Mr King paid for doing such a great job of leaving many investors financially ruined? Still living in a shed Michael? I hope it rains all weekend and your weekend sucks!!! Seamisty


THE ELYSIAN TOURNAMENTS
http://www.queenslandpolo.com.au/?PageID=79&wp=36
The Elysian Tournament on the 3/4th April has been cancelled, however the series of 2 goal tournaments at Elysian Fields will commence the weekend AFTER Easter 2010.

At this stage a number of teams are already confirmed so it will be a great and busy start to the Qld season.

The first weekend (10th April 2010 weekend) will be one tournament .

The second and third weekends (17th and 24th April 2010 weekends) will be one tournament but held over two weekends.

These tournaments will give a good lead into the 4 goals in May

 

[selciper]

As far as I can see, the Armstrong registry contact phone number is (07) 3231 0050. Is there a 1300 or 1800 number for interstate callers?

 

[seamisty]

http://www.abc.net.au/news/stories/2010/04/26/2882479.htm

Financial advisers to lose commissions
By Samantha Hawley

New laws will soon come into force which ban financial planners from receiving commissions and benefits which may cause a conflict of interest.

The Corporations Act will also be amended so financial advisers are required by law to put the interests of their clients first.

Financial Services Minister Chris Bowen says he is not attacking the financial services industry, he is just making it more professional.

"Thousands of Australians have their life savings wiped out by inappropriate financial advice," he said.

"They have a right to be angry and we have an obligation to act."

The announcement is the Government's response to a parliamentary inquiry into the financial products and services sector, which began after the collapse of Storm Financial and Opes Prime.

Labor backbencher Bernie Ripoll delivered his report last year.

Mr Bowen will announce the changes today, including a legislated ban on financial advisers receiving commissions - a much tougher measure than the Ripoll report recommended.

"By installing a legislative ban, we ensure that no operator in the future can get around conflicts of interest," he said.

"It's important that we have a very clear set of rules and those rules are that it is illegal for a financial adviser to pay commissions to recommend their products.

"Customers and clients when they're seeing a financial planner deserve to know that a financial planner is acting in their best interest and when you have commissions that is simply impossible."

Mr Bowen says a substantial proportion of financial planners' income comes from commissions, but they will adjust.

"The legislation will take a significant amount of drafting," he said.

"We will endeavour to get the legislation through the parliament this year but of course there'll be an election later in the year, but certainly the first of July 2012 is the start date for the new regime."

The Federal Opposition's spokesman, Luke Hartsuyker, says the proposed changes could disadvantage low income earners because it would mean higher upfront fees for financial advice.

"All commissions should be properly disclosed to that client. The opposition has no problem with that," he said.

"But the key issue here is if an individual wants to purchase advice and pay for that advice via commissions, rather than having to pay substantial upfront fees, they are prevented from doing so."

The Government will also give the Australian Securities and Investments Commission more power to act against unscrupulous operators.

Mr Bowen says he is also trying to expand the availability of low cost financial advice so more Australians have access to it.

He will not say whether it will be tax deductable as recommended by the committee.

"That will be considered in light of the Ken Henry review, and of course that's being released next Sunday," he said.

"I've made it very clear to the financial planning industry that it would be very expensive and therefore difficult to justify."

Mr Bowen would not guarantee that no taxpayer would be worse off following the release of the Henry tax review, but said there would be a substantial government response when it was released.

 

[Mary Lynch]

Gotta wonder how much of our money was used to pay ongoing kickbacks. The mind boggles!
If a fund has to pay for financial advisers to back them when they are already loudly advertising 9% interest, there has to be something wrong. One would think that any donkey would smell a rat!

Do such outgoings get mentioned in tax returns or ASX updates? I am sure that the payments wouldn't have come out of directors' pockets...haha....

 

[seamisty]

"Armstrong Registry Services Limited provides tailored registry services solutions to listed and
unlisted companies and funds. With talented staff and first class technology, Armstrong Registry
Services Limited is equipped with the resources and skills to appropriately communicate with their
clients' key stakeholders in a personalised and timely fashion..."

Delighted to read that we have yet more TALENTED
staff looking after our interests. The above guff is very similar in its presentation to the WC mission statement. PIF investors aren't all that stupid!

Also noticibly missing from a new website launching its debut is names of the talented staff employed by this 'boutique registry service provider, priding them selves on innovation, exceptional service and the ability to provide a flexible approach in order to meet clients’ needs'

No glowing accolades of highly qualified individuals, armed with bachelor of this or member of such and such, or current director of at least 6 other companies, accompanied with a string of former positions held in high profile companies etc. No, nothing. ZIP!!!

I see you can 'Click to get in touch instantly' though where you are redirected to a mailing address ARMSTRONG REGISTRY SERVICES LIMITED
GPO Box 987
Brisbane Qld 4001


Or you can contact The Privacy Officer
Armstrong Registry Services Limited
GPO Box 897
BRISBANE QLD 4001

OOPS!!! Different PO Box No. :dunno: Typo??
Bit sus?


More ferreting needed. Seamisty

 

[seamisty]

Also noticibly missing from a new website launching its debut is names of the talented staff employed by this 'boutique registry service provider, priding them selves on innovation, exceptional service and the ability to provide a flexible approach in order to meet clients’ needs'

No glowing accolades of highly qualified individuals, armed with bachelor of this or member of such and such, or current director of at least 6 other companies, accompanied with a string of former positions held in high profile companies etc. No, nothing. ZIP!!!

I see you can 'Click to get in touch instantly' though where you are redirected to a mailing address ARMSTRONG REGISTRY SERVICES LIMITED
GPO Box 987
Brisbane Qld 4001


Or you can contact The Privacy Officer
Armstrong Registry Services Limited
GPO Box 897
BRISBANE QLD 4001

OOPS!!! Different PO Box No. :dunno: Typo??
Bit sus?


More ferreting needed. Seamisty

http://docs.google.com/viewer?a=v&q...CwrGRE&sig=AHIEtbQ8obbNO0ZcwCLo_HVKTANcRj5EIw

The above link has Armstrong Registry Services address listed as PO box 897 along with shareholder details. So not sure how instantly you will be contacted if you mail to PO Box 987.

Seamisty (the ferret)

 

[seamisty]

http://www.nsxa.com.au/ftp/news/021722200.PDF (Take note of the header at the top right of the page ARMSTRONG
REGISTRY SERVICES LIMITED )

Note Mr Nigel Benjamin Elias, managing director and shareholder at Print Mail Logistics is also a director and shareholder of Armstrong registry Services. He was previously a director of Lewis Securities Ltd (http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/ASIC_B11_04.pdf/$file/ASIC_B11_04.pdf) now in liquidation. (Lewis Securities Ltd is an interesting story for another day!) Still digging, Seamisty



PRINT MAIL LOGISTICS LIMITED
Top 20 Holdings as at 2 November 2009
Security Classes Selected for this Report: ordinary fully paid shares

1. Landav Pty Ltd
2. Mr Jeremy Capo-Bianco and Mrs Suzanne Capo-Bianco
NSS Trustees Limited <The Capo Bianco Retirement A"/C>
3. Armstrong Registry Services Limited
4. Jeremy Capo-Bianco and Suzanne Capo-Bianco NSS Trustees Ltd
5. Pumbaa Investments Pty Ltd <Penrose Family Trust>
6. Mr Nigel Benjamin Elias
7. Mr Nigel Benjamin Elias
8. Dermos Pty Ltd <RV Jordan Settlement No 2 A/C>
9. Landav Pty Ltd <Jennifer Ann Campbell A/C>
10. Mr Nigel Benjamin Elias
11. Mr Robert Craig Cameron
12. Wellington Capital Limited
13. Ms Jane Anne George
14. Estival Holdings Pty Ltd
15. Hobart Properties & Securities Pty Limited
16. Lewis Securities Ltd (in liquidation)
17. Dermos Pty Ltd
18. Inveham Pty Ltd
19. Mr Nigel Benjamin Elias
20. Ms Maree Ellis