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Equititrust?

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Re: Latest from David Whyte

Mozzi said:
Just reading it now. Boy, glad there is at least someone who appears to be on our side!Thank you Mr Whyte. Look forward to shaking your hand on Friday!

Back to my reading!
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MAN THE LIFE BOATS.......this ship is sinking. With a little luck the RATS I'll go own with it. SEEMS IT HIT A WHYTE ICEBERG and no it's not an optical illusion Marky Mark, though this upper cut will leave you with blurred vision for some time. Didn't see it coming, neither did Hickie but really, have another read of that tome of dribble that purports to be Lions information memorandum attached to the Hall Chadwicks report. VAX will be re listed late Feburary it states, well it's April and still can't deliver. So let's all take seriously the MCIVOR THE CONIVOR AND TRICKY's little shell game..DON'T THINK SO.

Got that sinking feeling boys, maybe you can find solace in an old Queen Song,,,you know the words.....another one bites the dust. Score one victory for grey power and due process, one more nail in the coffin of Queensland Inc.

And a big Cheerio to Mr David Whyte, our very own Predator Drone. BOMBS AWAY MARKY MARK.
 
All together now, sing with me....MAREVA...MAREVA injunction lets all file suit with a MAREVA injunction. Has a great ring to it.
This little instrument can be used by the liquidators to INJUNCT all and any assets, money, units, deeds, cash of the Mcivor Inc preventing them from dealing, selling or using them, ths preserves them for distribution to the rightful benificiaries ...us.
It will also prevent him fom using unit holders money to defend himself fom the legal proceedings that will ultimately follow any liquidation.
 
Re: Latest from David Whyte

Mozzi said:
Just reading it now. Boy, glad there is at least someone who appears to be on our side!Thank you Mr Whyte. Look forward to shaking your hand on Friday!

Back to my reading!
Click to expand...

Yes, I agree, the letter deals with a lot of issues.

Interestingly Mr. Whyte doesn't make it clear that his company audits funds managed by both of Balmain and Trilogy, and as such he cannot make comment on those funds.

For a start, there are massive losses in three funds managed by Trilogy (one now wound up) but where's the mention?

How about Balmain's performance (as part of Balmain Trilogy) in managing the assets of the PFMF losing $177m?

There's three running for your fund, and yet only one gets the comments from your Mr. Whyte?
 
David Whyte

David Whyte has thumped them again, but this time solidly and the Administraitors will not get their fees paid... Will be some meeting on Friday...

In terms of the change in the RE David Whyte makes it abundantly clear that there is no need for any of the 3 proposals not just Lion Advantage...
 
Re: David Whyte

No Trust said:
David Whyte has thumped them again, but this time solidly and the Administraitors will not get their fees paid... Will be some meeting on Friday...

In terms of the change in the RE David Whyte makes it abundantly clear that there is no need for any of the 3 proposals not just Lion Advantage...
Click to expand...

I don't agree - he speaks to issues in relation to VAX, but speaks of nothing in regard to both Balmain & Trilogy. Of course he cannot speak to them because of the obvious confidentiality which arises out of the relationships.

So, is it fair to speak to one and not to the other two? How are investors (that is, ALL investors) properly informed when only one of the prospective suitors is scruitinized? The receiver is sending these letters to investors at the fund's expense!

Does anyone think that because so much comment is made in respect to VAX, that investors in receipt of Mr. Whyte's communication might be led to believe that there is nothing of concern in relation to either or both of Balmain & Trilogy?

Mr. Whyte speaks to inadequacies in the administrator's report in relation to VAX - and that's it!!! Think about it - where's the balance?

Further, in my view, Mr. Whyte has not made it abundently clear there is no need for a meeting. He merely asks investors to consider the following (paraphrased):

(a) The costs incurred by the administrator
(b) The time to call a meeting
(c) The administrator's prospects of success of overturning the current orders to appoint the receiver
(d) The time and additional cost for any new RE to come to grips with the fund
(e) The costs of a new RE viz-a-viz Mr. Whyte
(f) The risks of a potential conversion of the subordinated investment.

In relation to the above:

(a) I think most of you would agree that all or most of the costs of the administrator of Equititrust Limited are unlikely to be costs borne by the fund. If Equititrust limited remains the RE, then I believe it has the potential to call a meeting at the fund's expense if it believes that a meeting would be in "members' best interest"/

(b) Time? 28 days for a meeting - add a week for the court - add two, add three.

(c) Overturning the current orders. The administrator states that an opinion has already been sought - and that such opinion says there is no issue in law that would prohibit an application to set aside the receiver appointed to the EIF.

(d) The costs of a new RE coming to grips with the fund. Yes, this is important, a very costly exercise - and one that members should see as something to avoid.

(e) Re: Costs of a new RE viz-a-viz those of Mr. Whytes - well, time will tell. It might turn out that an RE is cheaper, but then again, it might not be. How are investors able to consider this issue? I think it's impossible to do so without a heap more information.

(f) The subordinated investment. The administrator addressed this point and there may be some movement in amending the constitution to remove the potential of a conversion.

I think it would probably be best for receiver to wind it up. Members will be much happier with the disclosure coming from a receiver, rather than a manager. Probably in relation to costs, the outcome might very well be the same - but how will members be able to judge?

I reiterate that I'm not an investor in your fund so I'm probably looking at things much more differently than you are. However, to understand my feelings, you might consider how you might feel if your Mr. McIvor was attempting to take over another fund - what would you do? Would you like the investors to know about Mr. McIvor? I'll bet you would.
 
David Whyte BDO Australia - Report

Lets agree to disagree, I think you have missed the point, if you look at both of David Whyte's recent reports he makes it clear that there are impediments to a new RE being appointed particularly the need for ASIC and Court approval no matter who it is. Further the particular attention to VAX is warranted as Hickie is a director of both Equititrust and Lion Advantage... An obvious conflict of interest at the highest level. Hickie as well has not met his legal obligations by providing a declaration of his personal finacial position which is required by law.

David Whyte is doing an excellent job...
 
BDO might audit the other funds but that's not running them or managing them. What Whyte has done is to high light that TRIOLOGY AND BALMAIN have enough profile to be assessed and judged on their merits or lack there of. The point being high lighted is that VAX is a Mcivor Phoenix and certainly that point needs to be re inforced.

This Corporate criminal has ripped nearly $80mil off the unit holders paying himself an his interests. On top of that he has lost over $250mil of the combined value of the trusts..

Now that's some historicals worth remembering
 
Administraitor in Trouble

It seems the Administraitor's now having found out that their benefactor will not be in a financial position to pay their fees is going back on their word not to seek fees from the investors funds.

These guys are worse than politicians when it comes to broken promises... They are liars of the highest order and it is great that David Whyte has exposed them once again... Crooks
 
ABSOLUTELY RIGHT, the VAX scam was propagated by McIvor with the Administraitor at the expense of investors...

People are not stupid, and this anger will be voiced at the meeting on Friday in the loudest possible way... Bring your cans of Baygon...

word75 said:
BDO might audit the other funds but that's not running them or managing them. What Whyte has done is to high light that TRIOLOGY AND BALMAIN have enough profile to be assessed and judged on their merits or lack there of. The point being high lighted is that VAX is a Mcivor Phoenix and certainly that point needs to be re inforced.

This Corporate criminal has ripped nearly $80mil off the unit holders paying himself an his interests. On top of that he has lost over $250mil of the combined value of the trusts..

Now that's some historicals worth remembering
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Re: David Whyte BDO Australia - Report

No Trust said:
Lets agree to disagree, I think you have missed the point, if you look at both of David Whyte's recent reports he makes it clear that there are impediments to a new RE being appointed particularly the need for ASIC and Court approval no matter who it is. Further the particular attention to VAX is warranted as Hickie is a director of both Equititrust and Lion Advantage... An obvious conflict of interest at the highest level. Hickie as well has not met his legal obligations by providing a declaration of his personal finacial position which is required by law.

David Whyte is doing an excellent job...
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I'm happy to agree to disagree - and after all, it's your money at risk. And as ASIC says, each of us makes our own prudential decision about how our respective investments are managed - it's the decisions we make today that affect our investments (or what's left of them) in the future.

If it was my money at risk, I wouldn't want to see any of them anywhere near the fund.
 
David Whyte BDO Australia - Report

David Whyte is thumping these idiots at every turn, Marky Boy has been given more than an upper cut he is about to be Knocked Out in the ring on Friday by the very investors he ripped off and then went and bought Multimillion Dollar Houses in Double Bay... His coconspirator wife should also hang her head in shame, she knew where the money was coming from and didn't blink an eyelid...
 
Re: David Whyte BDO Australia - Report

ASICK you don't get it none of them will get anywhere near the fund as David Whyte has outlined... There are too many hurdles the main ones being the Supreme Court and ASIC approval..

ASICK said:
I'm happy to agree to disagree - and after all, it's your money at risk. And as ASIC says, each of us makes our own prudential decision about how our respective investments are managed - it's the decisions we make today that affect our investments (or what's left of them) in the future.

If it was my money at risk, I wouldn't want to see any of them anywhere near the fund.
Click to expand...
 
Re: David Whyte BDO Australia - Report

No Trust said:
ASICK you don't get it none of them will get anywhere near the fund as David Whyte has outlined... There are too many hurdles the main ones being the Supreme Court and ASIC approval..
Click to expand...

Clearly we interpret the documents very differently. I'll stand with "I'm happy to agree to disagree". As I said, it's your investment and it's your decision that matters. I'm only opining - who's right? who's wrong? Time will tell. My sincere hope is that you're right and that I'm wrong. I just don't have confidence to say that I'm wrong.
 
200,000

This thread is really getting some numbers now with views heading towards 200,000... Expect that number to skyrocket after the meeting and when McIvor is formally charged...
 
Thread

The thread has been a invaluable tool for investors much to the chagrin of McIvor and his stooges...
 
IT'S TIME

LIQUIDATE DON'T HESITATE, LIQUIDATE DON'T PROCASTINATE, LIQUIDATE THEN CONSOLIDATE, LET'S LIQUIDATE THEN ERADICATE AND FUMIGATE. LETS AMPUTATE THIS CANCER and once done lets HUMILIATE, INVESTIGATE, LITIGATE, AGITATE, ARBITRATE, LET'S CASTAGATE AND COLLABORATE, then let's LUBRICATE (OR NOT) THE SHAFT WHERE GOING TO GIVE MCIVOR so he can DEFECATE AND EVAPOURATE out of our lives.

IT'S TIME EQUITITRUST AND ALL THAT CREWED HER WENT THE WAY OF THE DODO.
 
Couldn't Have Said It Better

The only this you missed was "Castrate" :)
 
Meeting

Don't forget your Baygon on Friday... This is shaping up to be one of the most volatile meetings in Gold Coast History... Those who seek Equity must come with clean hands and McIvor's have the blood of investors on them... On Friday why not ask him where he got the money to buy his $6M pad in Double Bay... Stacey McIvor (from Sydney) must have been planning their escape for quite a while...

Think they realize they have no where to run, and the nightmare has just started...
 
Don't think McIvor is looking forward to the meeting on Friday...
 
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