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Buyers Snap Up McIvor Bargains

Buyers Snap Up McIvor Bargains
Lucy Ardern

Gold Coast Bulletin

7 September 2012


"Potential buyers could see the silver lining to Mark Mcivor's misfortune yesterday when they turned out in droves for a chance to pick up one of the eight properties linked to the Equititrust Group founder."


View attachment DOC.PDF
 
Receivers Fire Sale of McIvor's Properties

Did any one see this "old guy" at the auction...



art-353-CBD-300x0.jpg
 
Receivers Fire Sale of McIvor's Properties

After reading the article regarding the receiver's sale of McIvor's properties it looks as though there will quite a shortfall considering the "fire sale" prices at which these properties have sold for...

The bank will then have to sue the guarantor for any differential. Now the question is who provided personal guarantees and will they have the money to stump up for the difference.

Some misfortune indeed...
 
House of cards investigated

House of cards investigated

Business with Quentin Tod

Gold Coast Bulletin

20 August 2012

THE intrigue over the $6.75 million January sale of Equititrust founder Mark McIvor’s Cronin Island house by receivers continues to grow. It’s been suggested police are seeking a fellow, previously jailed for fraud



http://goldcoast.newspaperdirect.co...0456c9ef213b&pdaffid=qHfizecEaPZkRivSNFZWCQ==
 
Statement of Financial Position

The liquidators have mentioned in their reports that McIvor and other directors have not provided Statements of Financial Position as required under the law and if not, why not ??? McIvor is a lawyer he knows what his statutory obligations are as a director... If these statements are not provided how on earth can the Legal Services Commission allow him to practice law again ???

Given the tens of millions of dollars of innocent retiree investor's money that was lost and the large amounts identified by the liquidator as being transferred without invoice to related entities (Refer to Administraitor report below Page 37 para 11.5 Page 30 para 11.2.1) these statements are critical...

http://www.equititrust.com.au/Pdfs/...eports - 20120412 - Circular to Creditors.pdf

Has this matter been reported to ASIC by the Liquidator ?

Why have there been no public examinations as promised in their earlier report ?
 
ASIC ; been very very quiet

with CBA fraud guys on the hunt - dont be surprised to see some serious action from ASIC
 
Supreme Court Action against McIvor today

King and Wood Mallesons it seems are not holding back the punches and have launched further legal action against McIvor in the Supreme Court. (refer to Supreme court Link below)

http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=8185/12

It seems there will be substantial legal action on foot in the coming weeks and months ahead, the question is what has precipitated the latest onslaught..
 
Supreme Court Action by Receiver against McIvor's mother

Supreme Court proceedings have been launched by the receiver of MM Holdings against McIvor's mother last Wednesday at the behest of Westpac Bank. (refer to Supreme court Link below)


http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=8062/12

It’s quite an interesting, inextricably linked web of cross ownership and intermingling of both corporate and private interests which has resulted in both and McIvor and his mother now dragged before the Supreme Court...

What have the receiver's found that has justified Supreme Court action involving two of Australia's largest Law Firms..
 
Public Exposure

What's good about these actions commencing by the bank's and receivers is that it will finally shine a light on what has been going... All of this has a connection to Equititrust investors and the truth finally needs to be revealed...

I commend the receivers for commencing these actions...
 
Re: Supreme Court Action by Receiver against McIvor's mother

This matter is being heard in court tomorrow... One day after McIvor's hearing today. It seems like a coordinated effort by both the bank and the receivers to take action...


No Trust said:
Supreme Court proceedings have been launched by the receiver of MM Holdings against McIvor's mother last Wednesday at the behest of Westpac Bank. (refer to Supreme court Link below)


http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=8062/12

It’s quite an interesting, inextricably linked web of cross ownership and intermingling of both corporate and private interests which has resulted in both and McIvor and his mother now dragged before the Supreme Court...

What have the receiver's found that has justified Supreme Court action involving two of Australia's largest Law Firms..
Click to expand...
 
Supreme Court Action McIvor - Mother

Why have the receivers and Westpac moved against McIvor and his mother ???

Two seperate court actions in two days is quite extraordinary ...

What have they found that has forced their hand ???
 
Re: Supreme Court Action against McIvor

It appears McIvor did not lodge an affidavit in response to the latest legal action by Westpac and the receiver...

Looks like the main game is about to start... Equititrust investors are watching closely as is the national media...

No Trust said:
King and Wood Mallesons it seems are not holding back the punches and have launched further legal action against McIvor in the Supreme Court. (refer to Supreme court Link below)

http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=8185/12

It seems there will be substantial legal action on foot in the coming weeks and months ahead, the question is what has precipitated the latest onslaught..
Click to expand...
 
Who else will be sued ???

Given the recovery action of amounts owed to MM Holdings, the action commenced below may be of some relevance and interest to the receivers...

It is clear now that there was substantial intermingling of private and business interests, which need to be set straight. The banks, receivers and in particular the law firms acting for them are doing an exemplary job of straightening out the McIvor clan...

http://www.couriermail.com.au/news/...ter-janeen-pelly/story-e6freoof-1226144026277

http://apps.courts.qld.gov.au/esear...x?Location=STHP&Court=DISTR&Filenumber=303/11
 
Mansion's long wait for a buyer

Gold Coast Bulletin
Quentin Tod
September 17th 2012


He was a client of the failed Equititrust merchant bank, which is understood to have a second mortgage over Alston.

http://www.goldcoast.com.au/article/2012/09/17/438326_gold-coast-business.html


Another bad loan which has decimated Equititrust investors, and McIvor wants to blame the regulator, the banks and receivers who are now pursing him... When he points the finger he has 3 pointing back at him...
 
2960/12 NATIONAL AUSTRALIA BANK LIMITED -V- MCIVOR

2960/12 NATIONAL AUSTRALIA BANK LIMITED -V- MCIVOR

The National Australia Bank is also moving on with their legal action against McIvor, lodging an amended statement of claim on 7 September 2012

It will be interesting to see whether the NAB expedites this matter like Westpac have done with McIvor's mother and have this action placed on the commercial list...


http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=2960/12
 
McIvor’s court bid fails to block sale

McIvor’s court bid fails to block sale
Lucy Arden
Gold Coast Bulletin

19 September 2012

"EQUITITRUST founder Mark McIvor has failed in a bid to stop the sale of five prime landholdings at Palm Beach, worth more than $5 million, which he owned until receivers took control."

"But receiver Will Colwell, of Ferrier Hodgson, challenged the legitimacy of the Gold Coast Highway land’s caveat in the Queensland Supreme Court recently and was successful in having it set aside."


http://goldcoast.newspaperdirect.co...fb190b19784a&pdaffid=qHfizecEaPZkRivSNFZWCQ==
 
McIvor’s court bid fails to block sale

McIvor’s court bid fails to block sale

"The caveats were issued on the basis that National Australia Bank and Westpac, both mortgagees for the Gold Coast Highway and Jefferson Lane land, had contributed to the collapse of Equititrust."

http://goldcoast.newspaperdirect.co...fb190b19784a&pdaffid=qHfizecEaPZkRivSNFZWCQ==

Wow, NAB and Westpac are to blame for the collapse of Equititrust... Has McIvor forgotten about the loans to his good mate "King Con"... Remember the reference he gave his good mate...

"The judgment reports how McIvor effectively provided a reference for the developer, speaking ''of Mr Quinlivan's personal qualities and experience and the pivotal role he plays in the company ''.

http://www.smh.com.au/business/investors-lose-in-encounter-with-king-con-20110612-1fz9d.html


The Supreme Court and the receiver have again doused an outbreak of chronic delusion...
 
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