Australian (ASX) Stock Market Forum

Equititrust?

Status
Not open for further replies.
Jump to new
Shadow On a Wall

McIvor is nothing more than a shadow on a wall... He is finished in business and this is his last despicable grab at "old people's" money...

They will FAIL in changing the RE, Equititrust will be liquidated and McIvor will be banned by ASIC and face further charges...
 
Re: Shadow On a Wall

No Trust said:
McIvor is nothing more than a shadow on a wall... He is finished in business and this is his last despicable grab at "old people's" money...

They will FAIL in changing the RE, Equititrust will be liquidated and McIvor will be banned by ASIC and face further charges...
Click to expand...

How do we feel knowing that Mcivor the Conniver still has 50 million units. 10 million ranked with ours and 40 million currently subordinated but soon to be back in play if this
" she'll game " succeeds. My contention is that these assets together with the millions palmed to family members are THE PROCEEDS OF CRIME and soon to be proven by the authorities currently investigating this enterprise. So how is it that the promoter of such an enterprise gets to vote these units. Doesn't it stand to reason that these assets are ill gotten and only exist in his hands because he ripped us off.

Surely they should be taken into the possession of the receivers or the authorities until such time as their propriety or true beneficial ownership ie: us is established. If not the receivers then the authorities.

Alternatively if Mcivor is as concerned about us as he maintained thru his coversive marketing, let's see him stand up now as a man and not the BULLY. Let's see him assign the assets to the receiver until this mess is soughted, lets see his undertaking in writing NOT TO VOTE HIS UNITS or rank with creditors.

Would he do this if he is truly honourable? Should he do this? OH YES!! Will he do it?
NOOOOOO!!!!!!
He could though if he wanted to. The reason he won't is because he has only ever been about self interest, and now to prove that HALL CHADWICK and a $2.8 million pay day, and you guessed it, paid by us is here to help him.

It's fair but he won't do that because we the " old people " will then out vote the shonks, so you see why it really all hinges on Mcivor again, just the way he likes it, in control.
Come on mate step up and give it all back. The game is up. If you don't you are shown to be ripping us all off again, maybe you and your family think that's right and can live with that, but me and mine don't and can't.

ASIC should attend the next meeting with us to see the real mood of those affected, to see all of us struggling to even pay the parking fees and watch this man who has not one but 7 waterfront houses or land in his various ownership structures....CAN YOU BELIEVE THAT....they should come and see first hand how professionals make a mockery out of the system and see how hired guns such as Connivers team operate as they lay waste to real people and property on their way to self gratification.
 
Finished

McIvor is desperate but that does not mean he will get up at the meeting...

There is action behind the scenes that will prevent this... There will a few surprises over the coming weeks...
 
Piper Alderman

Given the allegations set out by Piper Alderman, it seems that the losses and perilous financial state of Equititrust were hidden since 2008... The management fees etc and return on subordinated investment were all a scam.

The investigations being carried out by ASIC and "various other parties" will confirm that. Isn't it time that this crap stops and mareva injunctions are put in place regarding the "alleged" units being held by McIvor...

McIvor cannot and will not run rough shot over investors and basically pull them into something they do not want ... He cannot drag the other innocent retiree investors into his web of lies and deceit...

David Whyte is doing his job and investors want realisations via this route as it is TRANSPARENT and ETHICAL. His reasoning as to why the RE should not be changed is sound and is in the best interests of the investors...

To allow the perpetrators of this financial disaster to cook up another scam and then rope in "all the investors" is untenable and would be a blight on ASIC and The Supreme Court of Queensland...

Retiree are not pawns in some crooked game that McIvor is playing... If he hasn't learnt already he will learn that "For Every Action There Is a Reaction"
 
Resignation

Given McIvor's previous acrimonious relationships with the board and multitude of directors and CEO's has the Administraitor had enough of the lies and deceit and is about to resign???

If this is the case is may be a good move to save its reputation rather than been seen as doing McIvor's bidding in trying to crush already decimated innocent retiree's...

Something is going on in the background and its looking ugly...
 
Administraitor's Deception

If you look closely at David Whyte's latest report March 27 in Item 5, he outlines how he has asked the Adminsitraitor to explain why they are recommending a change in the RE given that ordinary investors will be disadvantaged to the tune of 11.3M to 15.3M, David Whyte is still awaiting a reply.... They have been caught out and don't know how to respond.... They were not expecting this much scrutiny of their dirty game against investors...

Come on "All Barren" respond to this question by David Whyte whats wrong???

We know whats wrong its a scam and McIvor is pulling ALL the strings in the background... It is inconceivable that a firm like this could be drawn into a scam like this what are the Hall Chadwick people nationally saying about this; surely their firm's reputation is important to them... If the firms partners on a national level do not get involved then they will be exposed in this monumental scam on investors...

LET'S GET AN ANSWER TO DAVID WHYTE'S QUESTION.... We are all waiting with baited breath...
 
Duties as an Administrator

If you are being lied to and being asked to do things that are unethical, as an Administrator don't you have a duty to ALL stakeholders to either walk away or not participate in schemes that are clearly unethical and NOT in the investor's best interests.

As David Whyte clearly outlines the Supreme Court late last year denied Equititrust's application for a replacement RE as it was not required for an orderly winding up... So why now try a surreptitious route to achieve something the Supreme Court has already rejected... Its simple this way McIvor can benefit to the tune of 11.3M to 15.3M. So why hasn't the Administraitor CLEARLY outlined this... Whats in it for them in keeping this quiet...

Its actually quite disgusting that this has even been attempted...

Lets get your answer "All Barren" what is it??? Investor's will now hound you 24/7 to come clean on this scam. I encourage ALL investors to now contact "All Barren" to answer David Whyte's question...
 
Tick Tock, tick tock will "All Barren" beat the clock...

Meeting coming up will you answer David Whyte's question or will McIvor ban you from talking...

When questioned about the 2.8M in Management fees McIvor has not been able to come up with an answer yet he has instructed his paid mercenary the Administraitor to write to David Whyte requesting the fees be paid... Gutless cowardly animals out to rip of the elderly...
 
McIVOR and HALL CHADWICK will be frantically getting the proxies

from a few hoodwinked wealthy sycophants....

they might well carry the day and change the RE

David Whyte has to somehow maintain the thankless job he has and wind up the EIF and payout the funds as collected and not allow anyone to succumb to this SHARE SWAP con!!!!!

ASIC, Media, Courts - where are you when small ill-informed and gullible investors need protection more than ever????
 
Re: McIVOR and HALL CHADWICK will be frantically getting the proxies

kostag said:
from a few hoodwinked wealthy sycophants....

they might well carry the day and change the RE

David Whyte has to somehow maintain the thankless job he has and wind up the EIF and payout the funds as collected and not allow anyone to succumb to this SHARE SWAP con!!!!!

ASIC, Media, Courts - where are you when small ill-informed and gullible investors need protection more than ever????
Click to expand...


Want to know how bad things can get? Ever heard of the MFS/Octaviar/Wellington Capital Premium Income Fund (PIF)?

We had a huge thread on ASF like you guys here but ASF pulled it.

Our PIF fund got taken over by Wellington Capital who listed it on the NSX. Unit value was diluted by a stock placement which the Federal Court found unlawful but refused to reverse. Tried to hold a GM to vote the RE out but which the Court found wasn't lawfully called but some how attracted an untraceable mailout to all unit holders that personally attacked unit holders. On the day of the GM a large number of paid extras were added to the fund's register. Our auditor PWC still haven't signed off on the books for 2011. PWC tried to resign but ASIC won't let them.

General attitude to you Equititrust muppets, like us PIF muppets, may well be that you were greedy for higher returns and deserve what you get.

Welcome to the club.

How well will the assets be looked after? See e.g. http://kooralbyntimes.com.au/category/resort-news/. That resort is one of our (PIF's) assets .
 
Re: McIVOR and HALL CHADWICK will be frantically getting the proxies

sadly, well put and true

Hall Chadwick and McIvor are lining up...... how do we know? well, how could any impartial party possibily recommend a new RE knowing that it triggers about $40M of sub-ordinated units and ranks them then pari passu.

ASIC, Media, AFP - anyone who can help.........



Duped said:
Want to know how bad things can get? Ever heard of the MFS/Octaviar/Wellington Capital Premium Income Fund (PIF)?

We had a huge thread on ASF like you guys here but ASF pulled it.

Our PIF fund got taken over by Wellington Capital who listed it on the NSX. Unit value was diluted by a stock placement which the Federal Court found unlawful but refused to reverse. Tried to hold a GM to vote the RE out but which the Court found wasn't lawfully called but some how attracted an untraceable mailout to all unit holders that personally attacked unit holders. On the day of the GM a large number of paid extras were added to the fund's register. Our auditor PWC still haven't signed off on the books for 2011. PWC tried to resign but ASIC won't let them.

General attitude to you Equititrust muppets, like us PIF muppets, may well be that you were greedy for higher returns and deserve what you get.

Welcome to the club.

How well will the assets be looked after? See e.g. http://kooralbyntimes.com.au/category/resort-news/. That resort is one of our (PIF's) assets .
Click to expand...
 
Honestly if I had invested in Equititrust out of greed then maybe that comment might apply but really how was 8% secured on property being greedy. What was greed and avarice was a man who used my $30000 life savings and leveraged it my multiples of ridiculous numbers then in compete contradiction and defiance of the companies constitution,,,, lends in total disregard of proper fundamentals to people and companies of questionable repute. In short a scum bag (is that a bad word).... took my money, lent it to his scum bag mates and lined his pockets at ours/my expense. GREED .....who's greedy I ask.

Has anybody done the numbers, how many of us investors have died in the last few years i ask. How many are dead? and now it's the estates of gullible and trusting people like us praying for a resolution. Well my estate is already in debt whilst Mcivor The Terrible has through his myriad of Trusts, Companies and relatives sit on not one but 9 (nine) waterfront properties on the gold coast, a $6m house in Double Bay, 2 houses in Currumbin overlooking the beach currently for auction with Ray White. And that's just the tip of it. There is property everywhere, development sites, subdivided blocks with no registered mortgages,,,,,, some agents have put a value of over $30m on these properties now say that slowly..... $30m. but if you were to get Mcivors usual valuers to value them well heaven knows, maybe they are worth $150m. Isn't that what happened with the Quinlivan properties.

Well it's not bad enough that I've been conned by this pariah but Hall Chadwick appear poised to do me again and vote Mcivors, 40million subordinated units in support of VAX and the Oh Crikey Teamsters. Now the whole premise here is supposedly that they bring with them liquidity yet they are trading insolvently..... Prove me wrong I dare you. They can't pay their bills as and when they fall due now. They can't raise the funds they are required to put up for the re quote on the NSX. In fact they are relying on a wealthy chicken farming investor, that's right one of us to plonk down another $250k. Now I ask you, on top of the millions he has already invested is Chicken Man doing this for us or himself. Why doesn't Hall Chadwick explain to us what he gets for putting up these funds. What inducement is he receiving or is that another one or the boys...

Well I did have some small reason to give thanks today....... my birthday, and a pretty good doctors report. Seems I will be around long enough to see ASIC do to Mcivor what he has been doing to us, and hopefully with no lubricant. When Kleenmaid and Equititrust occupy the same shelf then it won't be long now when the perpetrators of this MASSIVE FRAUD will need to pack a tooth brush. Oh and with those family members complicent.... well....... over crowding might be a problem in the big house.

Take heart fellow investors..... David Whyte is really as good as it gets, and the authorities are Eyes Wide Open :hammer:
 
ASIC Enforcement - Directors

Lets hope that ASIC and the Federal Police "finally" press charges against McIvor and ban him for life...
 
ASIC

ASIC is NOT a prudential regulator, as its disclosed to a number of us who've made complaints in the past.

If investors, for whatever reason, be it naivity or plain stupidity, want to vote for something that is detrimental to their best interests then ASIC will probably NOT intervene.

I think it's time that investors get the idea of fair play out of their heads.

As pointed out previously, it'll be all about proxies - if the newcomer gets the votes, it'll win the day - nothing else will matter.

While I wish ASIC would act to ensure the subordinated investment is not converted to an ordinary investment (which would decimate your respective unit holdings), I certainly wouldn't be too hopeful.

The ONLY way to protect yourselves is to write to ALL investors disclosing your concerns in a succinct way, especially in regard to the subordinated investment.

Maybe the receiver might very well do this - but I wonder whether it's his responsibility to do so?

The best hope is that ASIC ensures that any newcomer has the where-with-all and the resources to actually manage the fund.

A real problem in a MIF is that YOUR money is able to used AGAINST you - it's not for you to use, it's for the responsible entity to use. :banghead:
 
When is a Warranty not really a Warranty ? When Mark McIvor gives you one...

The subordinated investment was meant to be a warranty remember and MASSIVE fees were charged for the subordinated investment remember ? How much were those fees per annum ? Yet McIvor still not having sucked enough blood out of the elderly investors wants to decimate them further with this scam. David Whyte is absolutely right about there being no need whatsoever to change the RE.

Look how quiet the Administraitor is at the moment when it comes to answering David Whyte's question.... Bunch of pathetic cowards doing McIvor's bidding to rip off investors..

At a minimum ASIC should make them disclose the facts around the Subordinated Investment. Full disclosure is a basic tenement that ASIC insists on. This case is no different and if Hall Chadwick don't do this despite warnings on this thread they may find themselves uninsurable next year...

With Amanda Banton on the creditor's committee I do not think that they will get away with this scam.

Don't be surprised if the fast footed Amanda Banton pulls a rabbit out of the hat prior to the meeting to throw a spanner in the works maybe even a knockout blow...

ANSWER THE QUESTION ABOUT THE SUBORDINATED INVESTMENT "All Barren"...
 
Surely there has to be some protection for the investors not wanting to commit financial suicide and participate in this scam... I disagree in terms of ASIC, they have to get involved as it totally undermines the court orders they sought in winding up the funds in the "best interests of investors"... If this scam was allowed to occur then everyone would hire an Administraitor and basically undo what ASIC and the court have ordered...

A lot of people are now watching this including the media and all have been alerted to the Question that David Whyte has asked the Administraitor.... As their silence grows longer it becomes clear what the dirty game is. If they don't make full disclosure in regard to the subordinated investment then I am sure that either ASIC and or Piper Alderman or DAVID WHYTE will make application to the court to have the meeting
cancelled due to a lack of "full and proper disclosure" by the Administraitor...

It's simple they just have to answer whether a change in the RE will trigger the conversion of the subordinated investment in favour of McIvor to the tune of 11.3M to 15.3M as David Whyte has outlined... ANSWER DAVID WHYTE'S QUESTION...
 
Trilogy's Stellar Performance

After WC's PIF reported a massive drop in the last six months of 2011, the PFMF also fell heavily.

The PFMF dropped from $0.31 to $0.22 in the last six months of 2011 ($0.01 repaid to investors in late 2011 not accounted for)

That's 25% off the value of the fund in the first two years of Trilogy's management (July 2009 - 30 June 2011), and then a further 25% of what's left in the next SIX months (1 July 2011 - 31 December 2011)!

In all that time only $0.06 was returned. Trilogy's fee: about $15m!!! :banghead: That's about 28% of what ALL investors received during the period.

The asset underpinning Trilogy Healthcare REIT fund is up for sale for about the value of the bank facility ($3.5m - $3.8m as told to a PFMF investor who phoned the agent) which is about the same as a recent valuation disclosed of about $3.9m.

Anyone care to guess how much punters'll get from the stated $0.18/unit as at 30 June 2011?
(hint: Sale price, say $3.5m LESS (Bank debt about $3.4m plus interest plus outgoings) = $______)

http://www.moneymagik.com/

After nearly THREE WEEKS, ASIC still hasn't scanned in both the PFMF and Trilogy's big time loss at Crows Nest (Trilogy Healthcare REIT fund). I'd like to think that ASIC is simply BUSY.

Oppss .. I should add: and not a peep from our mates at the SMH about the losses in either fund!!!

And while I can - I'll add: and not the least bit of support from the USELESS Federal Labor Government!!!
 
David Whyte BDO Australia

After reading the above its a simple choice... Let David Whyte do his job and wind up the funds and return the money... No more fantasies and delusional schemes which lead to nowhere and only enrich the manager...

The great thing about the RE now is that investors do not have to pay a cent in management fees to EquitiRust... They are contained and disarmed... This whole scam about changing the RE is to reverse this situation and let the management fees flow again via a surrogate RE which we all know will be controlled by McIvor/Family member via some side agreement or trust arrangement... He has done it before and will do it again...

PS "All Barren" still waiting for your answer have you responded to David Whyte yet or has the "cat" (McIvor) got your tongue... :)

When will your answer be posted on the Equititrust Website ??? Maybe the firm on a national level is having second thoughts about "what answer" will be given....

"Liability" is a beautiful thing... :)
 
Silence Chirp Chirp

Wow since David Whyte asked the Administraitor to answer his question about the change in RE there is just the sounds of "chirping crickets".

David Whyte's report of the 27th of March posted on the Equititrust Website has well and truly kicked "All Barren" in the proverbials...

Have another read below, its great stuff and exposes the scam that was about to be perpetrated on innocent retiree investors...

Having discussed the report with a number of high profile lawyers and insolvency practitioners on a national level all have commended on the the high level of professionalism contained within the report and the manner in which David Whyte has handled both McIvor and his paid mercenary The Administraitor...

http://www.equititrust.com.au/Pdfs/...orts - 20120327 - 3rd Report to Investors.pdf
 
Status
Not open for further replies.
Top