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Equititrust?

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Re: Failure

Mozzi said:
Well, here we are, check your snail mail guys! Mr Pleash has put pen to paper! Can someone please explain what the ....... it means!?
Click to expand...



Would have been happy to share it with you but didn't realise they were saving on postage by not using snail mail for everyone. After all, we didn't get the impression that they were looking to save money in other areas, did we?!!! Certainly realised that it had not been posted on line, (DEFINITELY should have been) but it was addressed "Report to Creditors" so assumed that everyone would receive it.

Sorry not clever enough to post it on here but hope someone else can as still would like someone to please explain what the .... it means!?

Must admit thought everyone had gone quiet since there were no comments re this report - thought it was just taking a while to digest! There apparently was some confusion on receipt by some investors as BDO must have had some enquiries and followed up with a "how to" re the form on the last page.
 
ASICK said:
Are you guys sure this isn't the document?

http://equititrust.com.au/Pdfs/Receiver/Receivers Reports - 20120621 - 5th Report to Investors.pdf
Click to expand...

Unfortunately, no! The one you are referring to is the earlier BDO report.

The liquidator's report is from Blair Pleash of Hall Chadwick and is dated 27th June and when Mozzi checked earlier this evening it was NOT on the Equititrust site. It's last page has the formal proof of debt or claim form and apparently had caused some confusion, hence the follow up from BDO!
 




Will post tomorrow for all whom are intetested.
 
Re: Equititrust? HALLCHADWICK Report to Creditors 27th June 2012

mandl2415 said:
Will post tomorrow for all whom are intetested.
Click to expand...

Having a few tech issues in regards to getting the report on here.
For those interested you can PM me and I can email the PDF to you.
 
Joke

The Liquidator is a joke... They can see no money in the pot and have basically given up...

At least there is an "ethical person " in control of the winding up. David Whyte was the right the choice and the Supreme Court did a great job in selecting him... Let’s hope David Whyte refers McIvor to ASIC for prosecution as it seems the liquidator is protecting McIvor...

The banks on the other hand are going for McIvor's jugular and that of his co-conspirator wifey "Racey Stacey"... Boy did she back the wrong horse in terms of a husband... Both are now the laughing stock of the Gold Coast and Sydney business community... Failures who took a lot of innocent retirees with them...
 
Re: Joke

Thanks for putting that document up where we can all see it. Initial comments/queries on a rapid first review:

1. Who is behind Crackers Corporation - a supposed debt of $25,000,000?

2. last paragraph of section 3, Liquidator says they continue to liaise with legals about possible legal actions on preferential transactions/lapse of Director's duties etc. but that these hold little chance of recovering monies for creditors. Seems that Liquidator has accidentally forgotten that his duty does not end with the commercial task of recovery. He is also bound under law to report inappropriate behaviour to relevant regulators. I wonder why that issue, which was mentioned in his earlier report, seems to have dropped off the radar now?
 
re: Crackers Corporation Pty. Ltd.
http://www.townsvillebulletin.com.au/article/2011/07/02/244531_news.html

Also seems the fight for fees will commence soon (Equtitrust Liquidator v. EIF (and another fund?) receiver). I also note your Mr. White is doing quite well $375k .. nice work if you can get it. To my mind, there doesn't seem to be too much recovery for $600k in total fees to the end of the rerported period. Still, what can anyone do? absolutely nothing - just sit back and watch your money eke out to others. I know the feeling and I know it's not good.
 
Re: Joke

Where is the promised Public Examination of McIvor as outlined in the Liquidator's previous report??? All these idiots want to do is get their fees paid at the expense of innocent retiree investors... All of this unnecessary expense was caused by McIvor in appointing them in the first place in his deluded attempt to save his ass... It didn't work and now investors have to pay for that failure on his behalf as well... What a loser...

 
NAB Court Action Against McIvor

It seems that NAB will finish the job for everyone... Even though McIvor has filed an intention to defend and counterclaim (joke). He cannot delay the inevitable forever... NAB has very, very deep pockets and McIvor it seems does not have any pockets. King & Wood Mallesons are a formidable law firm which will finish the task at hand and relegate the delusional one to the same bench as his dear old mate “King Con”.


http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=2960/12
 
Bank seeks possession of Surfers mansion

Bank seeks possession of Surfers mansion

"THE Commonwealth Bank is trying to take possession of the most expensive house sold in Surfers Paradise this year, alleging fraud by a NSW truckie's company that paid $6.75 million for the property."

"The house, at No.1 Southern Cross Drive on the elite Cronin Island, is a luxury retreat built for the founder of the failed Equititrust merchant bank, Mark McIvor."

"The sale has been a source of ongoing speculation, with the $6.75 million paid by Vitago surprising property industry figures because it was way above the $4.55 million top bid achieved at auction. It was also more than $1.5million above the price agents believed the riverfront house would fetch.

http://www.goldcoast.com.au/article/2012/07/10/430315_crime-and-court-news.html
 
$1.5 Million over the expected Sale Price

$1.5 Million over the expected Sale Price allegations of fraud and now the Commonwealth Bank is seeking possession... Things are sure to surface very soon...
 
Thats the way you do it money for nothing:

The Cronin Island mansion was sold in January for $6.75 million, almost $1.5 million above what local experts though it would fetch, the Gold Coast Bulletin reports.PHOTOS: The Cronin Island mansionCBA claims it lent Vitago, a NSW company owned by transport boss Gary Fulton, over $4.75 million to buy the up-market property.But the bank is now taking Vitago and Fulton to court after allegedly discovering a string of false claims made in the credit application.The bank alleges Vitago provided a trust fund statement for a non-existent account, a fake ATO notice of assessment and a letter purporting to be from South East Tax Pty Ltd, signed by someone who was not employed by the firm.The CBA is seeking possession of the home and repayment of the mortgage, plus interest.The five-bedroom mansion at 1 Southern Cross Drive was built as a luxury retreat for Mark McIvor, the founder of failed merchant bank Equitrust.The Commonwealth Bank told ninemsn it would not comment on the case while it is before the courts.Sources: Gold Coast Bulletin, Commonwealth Bank
Author: Matthew Henry. Approving editor: Henri Paget​
 
National Media

This story has now been picked up by the National Media, including Jonathon Chancellor and ninemsn on its front page...
 
Where did the rest of the money go ?

If the NAB were paid out on the mortgage, where did the rest of the money go ???

Very pertinent question...
 
Delusional

Read this and see what delusional really is...
 

Attachments

  • sub 125 redacted.pdf
    347.9 KB · Views: 50
Senate Submission or Submission of Delusion

This was submitted to a Senate Committee by McIvor... Its amazing no mention of lending tens of millions of dollars to "King Con"...

Oh the conspiracy theories abound don't they... The banks must be laughing when they read this...
 
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