Australian (ASX) Stock Market Forum

Equititrust?

Status
Not open for further replies.
Jump to new
Nice to see your reading

Its nice to see the McIvor appointed Administrator is reading this thread... What a compliment to the thread. Please give our regards to your benefactor McIvor and wish him our best on his delusional journey as a "White Collar Crime Fighter"...

Only problem is that is looks like McIvor's collar has some stains on it.... Crack out the stain remover, new brand on the market called " Administrator" :)
 
Transparency

At the end of the Administrator's letter there is a plea for investor's to contact their office to clear up any confusion which may arise from posts on online forums...

Remember when Equititrust tried the same thing trying to stop the free flow of information... I advocate getting as much information as possible and this includes contacting the McIvor appointed administraitor as well as getting independent legal advice from Piper Alderman or any other lawyer...

One thing is for sure though and the results are there to prove it, this site has revealed the most over the last year than any other source... The National Media refer to it as does the Administrator it seems. :)

Today the power of the internet puts information at the fingertips of the public instantaneously... The administrator would not have published the minutes of the Equititrust meeting nor would they have alerted anyone about the share scam prior to the meeting. It would have been thrust on investors without warning...

This site has become similar to Wikileaks except they are now Equitleaks...

There are a lot of people who were disillusioned with the goings on at Equititrust prior to its collapse including former directors who resigned en masse not once but many times. Hickie's appointment as director in January after a receiver was appointed to the funds is highly suspicious when nobody wanted to have a bar of it. He didn't do it for charity... Why get involved in a sinking ship unless there is some other motivation...

Then we have a totally unnecessary Administrator appointed to essentially achieve nothing except thwart David Whyte's efforts and double expenses...

Any proposal from a McIvor appointed administrator has to be regarded with a extraordinarily high level of suspicion...

Anyone decent and respectful of the losses suffered by innocent retiree investors at the hands of McIvor and Equititrust will walk away and let David Whyte do his job which the Supreme Court and ASIC mandated him to do...

This has Dodgey Brothers written all over it...
 
Boy oh Boy the Domino's are Falling

"RECEIVERS yesterday confirmed the buzz around one of Equitirust founder Mark McIvor's high profile assets, the Bumbles Cafe building at Budds Beach, after announcing their intention to auction the property next month.

The property is jointly owned by Mr McIvor's private company MM Holdings and his wife Stacey, and has been caught the fallout of the financial turmoil that hit Equititrust last year."


Wow how many tears will wifey spill at this auction... :) Ill gotton gains don't last very long do they... How embarrassing for the Mark and Stacey not being able to sip latte's at Bumbles... KARMA at work again :) :) :)

How can the "duelling" dynamic duo show their faces in public again... :)

http://www.goldcoast.com.au/article/2012/03/24/401871_gold-coast-business.html
 
Hall Chadwick's Letter 23 March 2012

http://www.equititrust.com.au/Pdfs/Administrators/Administrators%20Reports%20-%2020120323%20-%20Letter%20to%20Investors.pdf

Hall Chadwick's letter to investors dated 23 March 2012 indeed caries comment in relation to this thread, but does not give investors directions to it.

hall_chadwick.jpg


It is true that the posts do not carry credibility in themselves since there is no suggestion that any of us hold any professional qualification for the giving of advice - in fact, all postings on the forum are very much disclaimed.

It is also true that members should do their own research and each member should come to his or her own conclusion.

This is why I try to make factual postings in order to give individual members a reasonable basis for making an informed decision.

As a fact, Trilogy has a failed Dee Why fund. It was a mezzanine (second mortgage) fund associated with Laton Corporate Finance - a company about which much of great interest has been written. Investors received $0.00 (see http://moneymagik.com/dee_why_new.php )

Phil Ryan of Trilogy (with others) was found to have breached a client's trust.
(see http://moneymagik.com/trilogy1.php)

It's Healthcare REIT fund at Crow's Nest was down to $0.18 (from $1.00) as at 30 June 2011. The asset has a hefty mortgage and is up for sale without a tenant.
(see http://moneymagik.com/analysis_REIT.php)

In its first two years of operating the (ex-City Pacific) Pacific First Mortgage Fund, the fund has incurred 25% further losses with a return of only $0.05 in those two years. Further losses has been disclosed with further losses foreshadowed.
(see http://moneymagik.com/index.php)

Ventueaxess has accumulated losses of over $7m and its main asset of about $3m has been commented on by the auditor as being valued in a speculative manner.
(see http://www.nsxa.com.au/ftp/news/021724952.PDF)

It's not brain draining to do a seach of Lion Advantage Limited to see that a strike action is in progress.
(see http://www.search.asic.gov.au/cgi-bin/gns030c?acn=088_638_911&juris=9&hdtext=ACN&srchsrc=1)

It's not a strain to see that Lion's previous life was as MERCATOR FUNDS MANAGEMENT LIMITED, a company about which ASIC disclosed (emphasis has been added):

"ASIC also placed a final stop order on the Mercator Pacific International Securities Fund prospectus that was lodged by Mercator Funds Management Limited. The prospectus was seeking to raise funds for a cash box, which would be used to purchase or develop unidentified hotels, resorts and/or commercial property.

ASIC was concerned that the prospectus did not meet the guidelines of adequate disclosure. These concerns included that:

information regarding the minimum amount required to be raised for a successful scheme commencement, and the directors' experience, was not disclosed;
the description of the fund did not reflect the purpose or the nature of the proposed investments;
the projections lacked a reasonable basis; and
the structure of the fund was impractical. It required investors to make their investments conditional on information that would be disclosed in a series of subsequent supplementary prospectuses."

(see http://www.asic.gov.au/asic/asic.nsf/byheadline/01%2F148+ASIC+unplugs+Telco+prospectus+and+locks+cash+box+in+moves+to+protect+investors?opendocument)

www.moneymagik.com (my site) is also disclaimed.

I believe members should do their own research. I (and others), at best, are only able to provide 'sign posts' to direct members to information - we cannot make members read the information.

Uninformed investors are vulnerable investors.

None of these companies will disclose the negative aspects of their businesses and ASIC will not compel them to do so. For example, as soon as Trilogy's Healthcare REIT fund got attention for its continuing and massive losses, all the returns and disclosures were removed from public view (accessable only by investors with password protection).

However, those disclosures are available (for a fee) from ASIC.

You're all kidding yourselves if you think you'll get a balanced view from anyone on the 'other side' of the fence.

'No Trust' and 'Kostag' are right about the value of forums - but that value is only as good as the information the forum discloses.

I don't think there is any value to any posting unless the posting is factual and able to backed up by a credible source - something I think posters herein should think long and hard about.
 
Re: Equititrust: ASICK? OLMAN? the bottom line?

both MERCATOR /LINK/VANTAGE and TRILOGY are on the nose?

is that what you are confirming?

that beign thecase - isn't the logical play to let DAVID WHYTE simply run out the EIF; return all moneys to INVESTORS as collected; and CRYTALLISE losses; and hope that the CORPORATE WATCHDOG goes after McIVOR et anor?

ASIC: lets make this happen!!!!!!!!!!!!
 
http://www.asic.gov.au/asic/asic.nsf/byheadline/09-240AD+Sydney+liquidator%27s+registration+suspended?openDocument

''09-240AD Sydney liquidator's registration suspended

Wednesday 2 December 2009

The Administrative Appeals Tribunal (AAT) has suspended Mr Geoffrey McDonald’s registration as a liquidator for two years after finding he failed to carry out or perform adequately and properly his duties as a liquidator under section 1292 of the Corporations Act (the Act).

...

The AAT decision highlights the need for liquidators to ensure they comply with their duties and obligations under the Act. The Act now requires voluntary administrators to send to creditors with the notice of the first meeting, a declaration concerning any ‘relevant relationships’ and indemnities.

The Australian Securities and Investments Commission (ASIC) originally made an application to the CALDB following an investigation into Mr McDonald’s conduct while Formula Engineering Pty Ltd (Formula) was in external administration between April 2000 and January 2003.

The investigation found Mr McDonald participated in separate arrangements with the appointed external administrator of Formula when the company was in external administration. During this period, Mr McDonald was a partner at Hall Chadwick and continued to be a partner until he left the firm in August 2008.

Registered liquidators from Hall Chadwick were prohibited by professional standards from accepting an appointment as the external administrator of Formula because of a prior professional relationship."

and now, looking at Linkedin:
(see http://au.linkedin.com/pub/geoffrey-mcdonald/8/342/943)

''...
Current

Owner at Hall Chadwick"

http://www.brisbanetimes.com.au/business/liquidators-the-6m-men-20100413-s7mc.html

"Suspended Hall Chadwick liquidator, Geoffrey McDonald, told the inquiry he had been ''branded'' after unfair treatment by the Australian Securities and Investments Commission and the Companies Auditors and Liquidators Disciplinary Board, a panel of industry experts which he claimed acted in lockstep with ASIC.

His brother-in-law had said of Mr McDonald: ''Geoff has to swim with sharks. Sometimes he gets bitten by them, and sometimes he gets mistaken for being one.''

But Mr McDonald said liquidators dealt daily with divorce, suicide, violence, depression and the ''human frailties'' of their clients. ''And then you may not get paid for doing it,'' he said. Hence their ''high base rate''.

He had left the profession in mid-2008 and became a barrister, partly moved by his unease with liquidators who did not try to save companies but simply took their money.

A Liberal senator, Concetta Fierravanti-Wells, suggested Mr McDonald had done the same.

''No, I didn't,'' he said.

''Oh really, Mr McDonald?''

''No, I didn't.'' ''Oh, interesting.''

Senator Fierravanti-Wells disclosed that she had dealt with Mr McDonald when she worked with Australian Government Solicitors.

...

Mr Gould said other liquidators, who worked closely with ASIC, were never examined. Senator Williams asked if they were ''treated as mates''.

''Correct,'' said Mr Gould.

''That's a very serious allegation.''

''It's absolutely true.''

The inquiry moves to Newcastle today."
 
Re: Equititrust: ASICK? OLMAN? the bottom line?

kostag said:
both MERCATOR /LINK/VANTAGE and TRILOGY are on the nose?

is that what you are confirming?

that beign thecase - isn't the logical play to let DAVID WHYTE simply run out the EIF; return all moneys to INVESTORS as collected; and CRYTALLISE losses; and hope that the CORPORATE WATCHDOG goes after McIVOR et anor?

ASIC: lets make this happen!!!!!!!!!!!!
Click to expand...

I'm merely giving you some publicly available information. I'm not drawing any conclusions - that's what you guys have to do after you check all the information.

However, since you ask, it's my view that Stacks is the only entity that I've seen in the mix that I would have had any confidence in, and it seems Stacks had the good sense to avoid meshing with the affairs of the EIF.

The whole system is set up to disadvantage investors when things go wrong. It's worse than the "law of the jungle". At least in the jungle, one could fight - in a MIF there is no fight, there is only submission.

Doctors make their best money when one's body is really defective: Lawyers make their best money when one really has a serious matter to take to court: but there are heaps of folks who are able to make very good money when a mortgage fund goes belly-up.

I guess one might ask "If I had a free choice and was properly informed, which entity would I freely engage to take care of my affairs in the circumstances?". I wouldn't select any of the names mentioned (with the exception of Stacks) - would you?
 
Re: Equititrust: ASICK? OLMAN? the bottom line?

agreed.....

respecting taht you do not want to give advice - isnt a logical conclusion of all your analysis, that we ought let ASIC approved David Whyte simply wind the EIF up ????


ASICK said:
I'm merely giving you some publicly available information. I'm not drawing any conclusions - that's what you guys have to do after you check all the information.

However, since you ask, it's my view that Stacks is the only entity that I've seen in the mix that I would have had any confidence in, and it seems Stacks had the good sense to avoid meshing with the affairs of the EIF.

The whole system is set up to disadvantage investors when things go wrong. It's worse than the "law of the jungle". At least in the jungle, one could fight - in a MIF there is no fight, there is only submission.

Doctors make their best money when one's body is really defective: Lawyers make their best money when one really have a serious matter to take to court: and there are heaps of folks who are able to make very good money when a mortgage fund goes belly-up.
Click to expand...
 
David Whyte

I agree, what's the use of talking about other managers when there is a mechanism in place via the court and ASIC with the appointment if David Whyte. All this other rubbish is just a time wasting diversion costing the funds money and wasting David Whyte's time.

More importantly this is also a diversion that McIvor was advised to come up with to offset the attention from him... The minutes clearly show this to be the case, "white collar" crime fighter etc... Which lawyer gave him this advice and did this lawyer refer him to the current administrator ??? All very valid questions to be asked...

What is clear though, is the Administrator's record is not so clean after all after the revelations regarding McDonald... What kind of culture in the organization engenders this kind of behaviour or will the administrator say he was a lone wolf. Maybe ASIC should also have a closer look at the circumstances surrounding their appointment in SA.

The administrator was appointed by McIvor to get him out of the deep sh#t he is in and create a diversion by way of Lying Advantage... The leaked minutes clearly allude to this, liquidate Equititrust, become a crime fighter and disappear out of the limelight... The question is which lawyer gave McIvor this advice and do they have "any" relationship be it social or otherwise with the Administrator in any way...

Or do we have another McDonald situation on our hands...

It's time for the Admnistrator to come clean on all the facts and why they are pushing for something which does not benefit investors and only benefits their benefactor McIvor...
 
Re: Equititrust: ASICK? OLMAN? the bottom line?

kostag said:
agreed.....

respecting taht you do not want to give advice - isnt a logical conclusion of all your analysis, that we ought let ASIC approved David Whyte simply wind the EIF up ????
Click to expand...

I don't know. I maintain the view that one should look beyond the spruiking to performance. All these folk have put up nice shingles in front of salubrious facades, but shingles and facades do not necessarily give rise to satisfactory performance.

I know nothing of Mr. Whyte's capacity to make the best of your fund's assets, so why should I think he is suitable for the job? What level of disclosure/transparency is Mr. Whyte going to give investors? Where in any other similar circumstanes is his performance able to be measured?

Could it be that you reach for Mr. Whyte as a saviour because you are so untrusting of others? I wouldn't agree with such logic. However, in the absence of any negativity as to Mr. Whyte, you may have no other option but to think that way.

Your fund needs an individual who has a track record of success and who is willing to give genuine comfort to investors - if Mr. Whyte is that individual, then you'd be in luck.

How about Gerry Harvey?

You might say "Gerry Harvey would never get involved with our fund"

You might then ask "Who would?"

You may, or you may not like your answer to your question.
 
David Whyte BDO Australia

As far as David Whyte is concerned he has been appointed by the Supreme Court and ASIC so in terms of independence its there... He also has a mandate to wind up the funds and return money to investors, a very simple way out of this mess.

The share scam is an exotic method of milking more management fees out of the investors and getting McIvor off the hook... (He is responsible for this disaster and will pay accordingly.)

How can David Whyte do his job with the crap and diversion that is being tried on by McIvor and his mercenary the Administraitor... He has not been given a chance to even start unraveling this mess and as far as I can see there is absolutely no reason whatsoever to question the bona fides of David Whyte. Only those like McIvor with an ulterior motive and something to "hide" are causing disruption to him.

If there is something negative about David Whyte let it be posted on this thread... If there was it would have been posted already... The guy is unblemished and to date has demonstrated he will not put up with McIvor's dodgey dealings, conflict of interest and non adherence to corporate governance.

There is a reason McIvor's camp want him removed but this will not happen, David Whyte has some very powerful support behind him and he will continue to do his job...

The majority of investors support an independent wind up of the fund by someone like David Whyte


As far as the adminsitraitor is concerned they seem to be collecting a lot of money for nothing and causing disruption and remember they were appointed by McIvor... Anything connected to McIvor has turned to crap look at the unraveling of his personal investments with receivers now basically selling everything up.

Investors can see through this smoke and mirrors game and luckily a vast majority of them read this thread and can now see what the game is... The publishing of the leaked minutes and emails was a game changer... That's why the administraitor had to reveal what was going on in his letter to investor's yesterday...

Although they don't like it freedom of speech and the free flow of information on threads like this stop scams occuring...
 
Re: Boy oh Boy the Domino's are Falling

If this prized asset (acquired through ill gotten gains namely the blood and sweat of elderly investors) has fallen into the hands of receivers, the McIvor's must really be heading towards poverty street and wifey must well and truly have the rolling pin out...

Will they now be able to pay the private school fees for St Hilda's private girls school???? Luxuries that the innocent retiree investors cannot even dream of affording thanks to McIvor's mishandling of their money... Most cannot even buy Birthday or Christmas presents for their grandchildren let alone dream of a normal life... McIvor will never in this lifetime ever manage peoples money again...




No Trust said:
"RECEIVERS yesterday confirmed the buzz around one of Equitirust founder Mark McIvor's high profile assets, the Bumbles Cafe building at Budds Beach, after announcing their intention to auction the property next month.

The property is jointly owned by Mr McIvor's private company MM Holdings and his wife Stacey, and has been caught the fallout of the financial turmoil that hit Equititrust last year."


Wow how many tears will wifey spill at this auction... :) Ill gotton gains don't last very long do they... How embarrassing for the Mark and Stacey not being able to sip latte's at Bumbles... KARMA at work again :) :) :)

How can the "duelling" dynamic duo show their faces in public again... :)

http://www.goldcoast.com.au/article/2012/03/24/401871_gold-coast-business.html
Click to expand...
 
Bumbles

Investors, can now have a coffee at Bumbles without having to see the McIvor's faces there any more... This is a MAJOR MAJOR embarrassment for the two of them as it was a prized asset. For investors and all of those who have had the unfortunate experience of ever having to deal with McIvor its a joyous moment as it shows there is order in the universe and KARMA is restoring the balance... Not to fear I am sure Stacey can get a job serving coffee at the cafe whilst hubby goes and fights "grime"off white collars... :)
 
Bumbles

Maybe an investors get together should be held at Bumbles :)
 
Bumbles in the hands of receivers

Watch for more asset auctions over the coming months by the many receivers appointed by the banks, this is just the start of McIvor's personal collapse... Quite just and equitable considering he lost upwards of $170M of innocent retiree investors money on irresponsible and idiotic lending to the likes of his buddy "King Con" and others...

He must be loving the "multiple" receivers on his ass at the moment :) Also quite amusing considering his abuse of the use of receivers to threaten people into submission over the years...

THERE IS JUSTICE and its being meted at in bucket loads at the moment and there is MUCH more to come...
 
ASIC

Is McIvor going to get banned by ASIC ? It seems there is a genuine concern given the contents of the leaked company minutes.. That may be the least of his concerns as some new bomb shells are about to land in the coming weeks...

Maybe a coffee at Bumbles will soothe his worries... Oh hang on the bank's have taken that :) :) :)

Is personal insolvency the next step ???
 
ASIC

Will ASIC scuttle the share scam and appointment of a new RE ???

Is something is happening in the background...
 
Re: ASIC

No Trust said:
Will ASIC scuttle the share scam and appointment of a new RE ???

Is something is happening in the background...
Click to expand...



Mr Whyte has kept his word and his report is on Equititrust site right now! Interesting reading!
 
what a swindle!!!

if anyone has any doubt what McIvor's game is or what his man, All-Barren, is on about.... just take a look at www.equititrust.com.au .... these swindlers will try and claim the sub-ordinated investment.... lower than snakes!!!




Mozzi said:
Mr Whyte has kept his word and his report is on Equititrust site right n



ow! Interesting reading!
Click to expand...
 
Status
Not open for further replies.
Top