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McIvor Bankruptcy

The Partner from King & Wood Mallesons who has filed an affidavit in suppport of the McIvor Bankruptcy in the Federal court is Philip Pan. Philip is a Partner in the Brisbane office.

Equititrust investors and those who have had to deal with McIvor over the years give Philip Pan their full support.
 
McIvor Dirty Laundry

Given the "Dirty Family Laundry" that is being aired in the Supreme Court at the moment, what’s next from the McIvor's ???

Don't be surprised at more Media Scrutiny over the coming weeks as there is lots more... It seems the deepest, darkest secrets are yet to come out... Who is next to break rank within the McIvor's and reveal more ???

It's amazing what a spotlight and sitting in a witness box reveals...
 
I worked at Equititrust and it has been a while since I visited this site. I am so disgusted by what I read. This isn't for investors this site is for sickos.

Finally, someone disclosed that Wayne McIvor is "No Trust". Not that it had to be written, it is so obvious (and the try hard cover up....ha!). It is a sad indictment on human nature that Wayne, who bled his brother for decades, turns on him when he is no longer able to support his lifestyle. Isn't it amazing that his hatred for Mark wasn't disclosed whilst the cheque book was open. He was happy to take employment, houses, holidays and spending money from Mark. To live a lifestyle he could never support himself. And this is the Wayne McIvor who never supported his only child.YesWayne like we didn't know. Now he wishes to write about responsibility. It is sickening. Give up the drink Wayne (and maybe the late night posts will follow).

The McIvor family should be shamed. Mark supported his Mother, Father, sister and brother in a way that I always thought was stupid (most of us did). Janene prancing around the office having her children's school fees paid, cars brought, air fares paid. Looking down on us employees. A mother, Janice McIvor, that never showed one inch of support to her son but was happy to have unlimited funds available to her, credit card bills that would buy a small country. Sent directly to our in trays. You never wanted to answer the phone when she wanted more. Pretending in court that she didn't know what she was doing. She is the most cunnig woman you could wish to meet. She was never a mother to Mark, she is an old lady who threw her son under a bus.

Mark is not a saint but he was always very good to me. He doesn't deserve this. Who needs enemies when you have this bunch for family (if you can call it that). God bless you mate.
 
Desperate Times for Some

Eyes watering from laughter... Totally off the "Mark" once again... :)

I will leave the family meltdown to the family which is doing a great job of tearing itself apart in the press and posing for pictures in the Gold Coast Bulletin…

As predicted "The Strange Animals that come down to drink" are at each other’s throats yet again... The Family dispute being played out in the Supreme Court is well documented in the media... The fact this is in the public domain is collectively the McIvor's fault... They have no one else to blame but themselves.

Employee or family member whoever "nordrum" is has to realise the only siko's in all of this are the people who lost the life savings of innocent retiree investors... Nordrum may be suffering from a form of corporate or personal "Stockholm Syndrome"...

So the interests of the McIvor family and their credit card bills took precedence over innocent retiree investors???

Why were the personal interests of McIvor and family intertwined within a business where hundreds of millions of dollars of retiree investors’ money was meant to be managed???

Why did every board member resign including old mate David Jackson QC and then issue affidavits in support of the winding up proceedings... All well documented in court records and in the press...

Why did McIvor lend tens of millions of dollars to his good mate “King Con” ??? He also gave him a personal reference...

The media across the country in their reporting over the past week and the assessment of every sane person seem to vindicate my stance on this...

Read below and get a sane perspective on what happened...


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

http://www.couriermail.com.au/ipad/...rds-tumbles-down/story-fn6ck2gb-1226174522609

http://www.smh.com.au/business/mi-oh-mi--whats-mcivor-up-to-now-20121120-29o12.html

http://www.perthnow.com.au/news/jan...22m-in-mortgages/story-e6frg12c-1226519911766

http://www.goldcoast.com.au/article/2012/11/13/441686_gold-coast-business.html

http://www.smh.com.au/business/names-mcivor-hes-not-happy-20120711-21wci.html

http://www.smh.com.au/business/three-chords-and-a-sheppard-all-star-city-needs-20121121-29q5y.html

 

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Mumsies Court Case

With court proceedings being finalised on Thursday over the possession of McIvor's mother's house judgment has been reserved and will be announced soon...

In terms of the McIvor civil war amongst themselves as reported in the media this week, expect to see more scrutiny by the media in the coming weeks...
 
You may well be right and the fact that you worked inside the place you might know better than any of us.... BUT isnt the fact this - for whatever reason, Mark chose to shower abundant cash and gifts on those around him and the problem was simply that as it now emerges, it was never his money.

I am sure that he was good to you - if you say so - BUT again, in his generosity - it was simply never his money.

The profits all appear to be illusions; the lending practices were reckless; the representations he made, atleast from about 2008 , would appear to be deceptive at best and some might argue, downright fraudulent.

Fair or unfair - he was the CEO and enjoyed the largesse of pensioners funds.. The fact that his generoisty and support of his own family has been misplaced, is sad - but this was his choice and another poor judgement call. But hardly our fault!.

He seems to have made a lot of poor choices and when they impact to the extent that they have on others and ruined so many lives - makes him both culpable and responsible.



 
Can't See the Wood For The Trees

Employees, "if that’s what they really are" sometimes fall into a bunker mentality exacerbated by the fact that their livelihood comes from the source that is under attack by both regulators and investors...

In the end there is only one person to blame and that is the person at the top. All the directors who resigned were very clear in their affidavits to the Supreme Court as to who was at fault and who was looking after his own interests at the expense of innocent elderly investors...

The media, courts and ASIC in their analysis across the spectrum have also come to the same conclusion...
 
Media

Equititrust Investors should keep their eyes on the media in the coming weeks... More revelations to come...
 
Re: Can't See the Wood For The Trees CULPABILITY

I think that ASIC will show that all Directors have a degree of liability and culpability BUT anyone who knew Equititrust and Mark McIvor knows that he ran it like a personal fiefdom - and what Mark wanted, Mark got... he bankrupted borrowers almost out of sadistic pleasure .... there is a Kharma in life and it is now coming back to him in spades....

NOTRUST : you seem to know a lot - what was the connection between Mark and King Con?

How come King Con finished up in control of and managing distressed EQUITITRUST loan assets? were there payments back to King Con or King Con and "private interests"?

 
McIvor Bankruptcy

Karma indeed...


 

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King Con

McIvor and King Con had a long established business relationship as reported in court proceedings and the Media...

In terms of any other arrangements, these are currently being investigated by numerous parties... I will let investigations continue and look forward to their findings... A plethora of information has however changed hands...

Question now is who will throw who under the bus ???

Why were the investor's never made aware of the borrowings to King Con by McIvor ???


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

Given the current proceedings underway McIvor and King Con may soon have a lot more in common than past business dealings...

I know, maybe they should start another Mortgage Fund together...
 
Re: King Con - McIvor

My questions on this relationship would be:-

1. Quinlivan did not pay $82M for the property - so when he borrowed $60M from Equititrust - where did all that money go? What did he pay for the property at Ipswich? were any moneys diverted to third parties?

2. Quinlivan was put in place to maaaaanage atleast two Equitirust loan assets once they slipped into default alleging bringing his unique property expertise to the benefit of Equititrust. I am told that moneys were then paid to Quinlivan's companies by Equititrust (the invetsors moneys). Did of any of that moeny filter acros to 'third parties'. What loan assets did Quinlivan get to manage in this way? whilst his own Ipswich loan 'asset' dwindle away....


No Trust said:
Given the current proceedings underway McIvor and King Con may soon have a lot more in common than past business dealings...

I know, maybe they should start another Mortgage Fund together...
Click to expand...
 
Re: King Con

my very good information is that QUINLIVAN has no love for the great white ghost and feels very much set up...

 
Re: King Con

Thats what I hear as well...

Your questions as to where the money went are very valid and thats why they are being investigated...

What went where in terms of money is something the forensic accountants will have to unravel...


kostag said:
my very good information is that QUINLIVAN has no love for the great white ghost and feels very much set up...
Click to expand...
 
Oh, and let’s not forget the fall out with old mate and former director of Equititrust David Tucker who he appointed to sue Hickey lawyers...

Certain behaviour patterns in business clearly established...
 
McIvor Bankruptcy Proceedings - 28 November 2012

It seems that the Bankruptcy application brought by Tucker and Cowan has the full support of NAB with respected Law Firm King &Wood Malleson filing an affidavit in support of the application.

Does that mean Marky Boy will not get his art back???

The Courier Mail Article below shows McIvor's disdain towards NAB, Ferrier Hodgson and law firm Mallesons.

"Mr McIvor has not lodged a formal defence in the case but court records include emails which clearly outline his position. He accuses NAB, Ferrier Hodgson and law firm Mallesons of "unconscionable conduct" in pursuing him and he blames NAB for wiping out $76 million from Equititrust's balance sheet."

Wow the delusion is mind boggling, can you imagine having to pay the banks back "their money"... Then when he didn't he complains that they are pursing him... Boo hoo... McIvor did a lot worse to borrowers who fell into his web. Now it seems that Tucker, NAB, Ferrier Hodgson and King & Wood Mallesons have had enough and have pulled out a big can of insolvency Mortein...


http://www.propertyobserver.com.au/...-mcivor-over-legal-fees-billing/2012111457833


http://www.couriermail.com.au/busin...p-art-collection/story-e6freqmx-1226338596337
 
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