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Equititrust?

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Hall Chadwick

The next exposé should be of "All Bran" and Hall Chadwick who promised the innocent retire investors that they would not charge fees on the decimated funds but who have now gone back on their word... What would Hall Chadwick say to this if a camera was shoved in their partners faces... These guys work in the shadows, at least David Whyte has shone a spotlight on them...
 
Public Examination

Will McIvor turn up to any future Public Examination ???
 
Re: Public Examination

This is something that McIvor is dreading and the reason is he knows whats waiting for him. What he does not realise is that a lot of other information has and will be given to the lawyers prior to the Public Examination that he thinks has been dead and buried for a number of years.

Whats good about Public Examinations is the fact that the Public can be present in the courtroom... Lets hope they set up the public stocks for him outside the court as he advocated for other failed executives of mortgage funds...



word75 said:
Posting the links doesn't answer the question...... What do you really think?
Me......well when the Gun Investicator on the Mcgivor Disaster leaves his career position and joins a fund in the very field being investigated.........ummm
Click to expand...
 
Re: Public Examination


Am I the only sceptic or just the voice of reason but do you honestly believe that Mcivor would answer any question put to him honestly. That's not his Achilles heel. The people who need to be examined are his long term subordinates the staff on the payroll who witnessed his documenting of deals, their creation, dating and signatures. These people were on the coal face and unlikely to lie to protect him.....They were the remaining few who stayed till the end...when Whyte finally let them go. I urge immunity which would encourage these budgies to sing. Then examine the Nexus between Mcivor personally and the valuers who he met with, instructed and cultivated so to Plump up the Valuations of dud properties allowing him to plunder falsely the riches created on paper. This resulted in the real loss to investors. Pure and simple..... This is the criminality needing investigation.

One valuer is featuring prominently even discussing with his partners the prospect of their firm joining Guardians Band of Brands.... before the wheels fell of that turkey, putting him in Zoo Doo. If this conspirator was given immunity you could guarantee Mcivors next big purchase would be A Soap On A Rope.

Lawyer and ever diligent Racey is up to her eyeballs in it, The Truth Is Out There.....THEY KNOW ABOUT THE SIGNITURES..... explain again your millions in super.
Somebody please EXAMINE RACEY.....cappuccino's are not paying for Soleno, Is of Capri the private school fees or the luxury cars. How long could she hold back the truth with a Skilled QC drilling for information. Mcivor will be undone by his minions and hopefully loose his millions,,,,and return our millions
 
Re: Public Examination

Now if Racey Stacey is not Examined in Court as a former director and alleged beneficiary of funds then something is very very wrong...

Where is the rent money coming from etc etc. These are valid points and if innocent retiree's money is being used to fund this luxurious lifestyle then it must come to an end...

 
Re: Public Examination




Where are you guys getting all this? Has someone given an undertaking that there is ACTUALLY going to be a Public Examination?

Must have missed that bit!
 
Re: Public Examination

Mozzi said:
Where are you guys getting all this? Has someone given an undertaking that there is ACTUALLY going to be a Public Examination?

Must have missed that bit!
Click to expand...

SADLY no, there apears to be no verifable undertaking to do so out there. There are mutterings from Piper but really after nearly 2 years at it there is no evidence to indicate they are any closer to actually proceeding with Proceedings. Not withstanding Whytes recent foot note on the subject there is no real motivation there other than publicity or some.

Action taken against the auditor would fail and that action is prohibitively expensive to bring and the directors insurance wont payout if fraud is alleged or proven, and let's face it, that's what they will allege and really that's what it is.

Another reason why it unlikely is because Mcivor chose Strategic Bankruptcy as a way of protecting his Assets. His Trustee Worrals could examine him but they don't have funds to do so, Tucker won't throw good money after bad being satisfied that he had last laugh. Really.... Mcivor had last laugh, the banks are listed as creditors owed millions so why haven't they thrown some money Worrals way to fund an examination..... Because they will have already researched and concluded that Mcivors remaining assets are protected from creditors. They too won't fund another dollar if there is no likely return.

So who's left to do the job....ASIC? This industry has seen scumbags like Mcivor rip $15 billion off investors and if you believe Four Corners this was all done LEGALLY. So what would an ASIC examination result in, Mcivor is a bankrupt, anything he says is deemed unreliable by the court anyway, so just imagine how unreliable it would be with him lieing as well.

So you have a remote possibility of a joint application by Piper and Hall Chadwick.... what nonsense Hall Chadwick had funds from day one and or could have recovered funds from Mcivor and his bride, or the Guardian/Vax enterprise using clawback provisions at there disposal, but didnt. They could have used those funds for the purpose of examining Mcivor and or's but didnt.

Ive concluded that the Christmas Turkey that is Mcivor has flown the coup and we will all go hungry while he lives a lush life on the range raising his family of gobblers.
 
Fishing Expeditions

Just for your information.

Trilogy, as RE for the Pacific First Mortgage Fund (PFMF) conducted a public examination (aka "the Fishing Expedition") of certain ex-City Pacific Limited (Citypac) folk as well as a number of others, including some from the CBA (or ex-CBA). IMF funded the expedition.



In November 2012, Rodger Bacon told a PFMF unitholder that IMF spent $2m on the examinations. Bacon described the outcome of the public examinations as "bloody disappointing". IMF pulled the plug and did not fund the eventual litigation against the ex-Citypac Directors.

http://www.moneymagik.com/imf_litigation.mp3

In February 2013, a PFMF unitholder was told by a member of Balmain Trilogy's staff that the fund had paid about $500k on the litigation to date and expects the final cost to be about $1m. To date, Trilogy has not provided an update to members in relation to IMF, the public examinations, and the fact the fund's shelling out BIG $$$$. In fact, it's now FOUR months since we've had a fund update and OVER TEN MONTHS since we're heard from BT's ICC.

Phil Sullivan, ex-Citypac CEO alleges there's no insurance because the premiums on a "run off" policy weren't paid.

Unless there's $$$$$, I can't see a fishing expedition in relation to your fund anytime soon.
 
Re: Fishing Expeditions




Thank you both for all your input. Never for a moment thought it was going to happen, so if you don't expect - you don't get and aren't disappointed. Know we are all "peeeeed off" about all of this. Particularly the McIvers living the life of Riley on our money, but them's the breaks. Who knows, perhaps we can all have dinner at McDonalds with the few cents if any Mr Whyte has left over (after he is paid of course)!

It is good to get all the info and gossip, but know that the end of the day - Zilch is what we have to look forward to. By the way, still say that Piper Alderman have something like 15000 in their funded class action againt Vodaphone, not sure that the funder will run one for for 39 Equititrust investors if that is still the number? Too much time is passing with no action! They haven't even advertised, or circularised investors to get any other interest as far as we know. So far the best kept secret!
 
Schemes

Really, it's the Federal Government's fault because they set up the framework. If one sits back and thinks about it objectively, just a little bit of planning and the $$$$ could soon be flowing in the door.

A little bit of seed money and a co-operative bank (and a way to get the seed money out ASAP) - A constitution that's lumps all the risk on the punters. None or few personal assets. Then advertise a more than attractive interest rate. Spruik the security of mortgage - and then, finally, disclaim everything.

and as they would say in days of yore, "Bob's your uncle".

The blessing is that if the whole scheme goes belly up, the Corporation Act provides the fund is to be frozen - and then the $$$$$ really start rolling in - after all, there's NO redemptions.

The worse things get for the fund, the better for the manager, or if the manager is ousted, for the new manager - or in the case of a receiver, the receiver.

A non-liquid managed fund (scheme) is literally a "Manager's Delight".

Yes, these are schemes, but these are schemes structured with a lot of forethought for the manager's benefit, not for investors.

Yes, the Corporations Act spruiks that a manager must operate the scheme "in the best interests of the members of the scheme" - but, that's naive of the government to think that self-interest is able to be banished from the scheme.

The government most certainly set up a way of making money, not only in the good times, but more so in the bad times.

Take LM's FMIF, the manager takes a fee for management, and a fee for acting as "receiver" for bad loans LM itself made - not bad. As I said, the worse things get, the more money's to be made. Crickey, not much at all for a manager to do when things go bad. Seems then the works is to give the punters hope, even if there isn't any.

Loss gives rise to grief, grief to acceptance, acceptance to hope - but in the end, others have their snouts in the trough making money at members' expense.

The shame of it all is that you all have to contribute to entities like BDO (at great cost) to wind up the mess Equititrust Limited left you with.

Perhaps hope will turn to acceptance and it all soon be at an end.
 
Read Hall "Pass" Chadwick's latest report on the Equititrust Website and it seems that they have nailed their colours to the mast in terms of Public Examinations... I do not see them getting paid unless they now follow up on their promises... Given Hall Chadwick's track record in terms of promises I would not hold your breath...

Very amusing though...


http://www.equititrust.com.au/Pdfs/...eports - 20130228 - Circular to Investors.pdf
 

CAN YOU BELIEVE THE GAUL

And I thought the award season was over and all the Oscars handed out. This piece of fictional accounting most certainly would have been awarded if nominated.

First up.....HC ..you can't be serious really and we all thought Mcivor was the....maybe I should be aware of liable here but you know what we are all thinking. AND YOU DIDN'T CLAW THE MONEY BACK FROM THE MCIVOR's, HONEYMAN, HICKEY, GUARDIAN CAPITAL PARTNERS, AND THE LAWYERS, WHEN YOU WERE APPOINTED....WHY WAS THAT. $600-800k on the fly and well within your reach and juristiction. Now most certainly dispersed...AT BEST THAT CAN BE SEEN AS NEGLIGENT, and you are racking up bills at the rate of over $150k per month. Makes BDO look like an absolute bargain.

At least we can draw comfort in the knowledge that you won't be paid. All that nonsense about auditing the auditor, window dressing and puff, more smoke and mirrors to bamboozle the gullible punters. How hard is it to find Honeypots poison pill in those books. Even I would stump up the $44 for H&R Block to spend an hour to spot it. KPMG WON'T HAVE ANYTHING TO ANSWER...any report is only as good as the information provided and if it was inaccurate or worse deliberately deceptive or sabotaged.....well I expect that will get them a pass..

Any evidence they are concerned any mention or report in their financils of a contigent lability,,,,,,can't see any.

STOP TALKING RUBBISH, PUT UP OR PUSH OFF!!!
 
Well, if nothing more, the information provides evidence that the real money's not working in the mines, but rather in the liquidating business - 34 hours for $18,700.

I don't know too much about what's left in Equititrust Limited (EL) - is the liquidator paid by EL or is it expecting the $$$ from the "remuneration" to come from the EIF?

Which entity is expected to front up with the $$$$ for the pubilc examination? - that's not going to be cheap: IMF paid out $2m to fund the manager of the PFMF to publicly examine certain individuals.

Of course, it's commonly recognized that these examinations are really no more than fishing expeditions. Does anyone really think that an affirmation or oath is going to produce documents not produced to date?

Imagine the case if someone had documents hidden in a box under the bed, does anyone think that an affirmation (or oath) would cause them to deliver up the box, and say "Do your worst - I deserve it"?

I'm curious about the letter's reference which is, in a nutshell, "Report to Investors of EL" - but isn't it the case that no EIF investor is an investor of EL? EL was only the responsible entity for the fund.

The whole thing seems a tad strange to me.

Maybe I'm wrong because I don't fully understand what's happening, but it seems to me that the target is in fact the money in the EIF.

It seems to me that if a public examination is required, then they haven't got the evidence on which to bring proceedings, and if that's the case, expensive public examinations are unlikely to advance the cause.

Could it be that investors (or the receiver) be asked to contribute towards the public examination (and more, like the "remuneration" in the letter) in order to give investors a chance at recovering losses?

The EIF is most certainly a "delight" for those able to tap into what's left of it, that is, before investors get their hands on what's left after that.
 


21 working days in Janurary and HC has a very diligent junior paid the paltry sum of $95per hour who billed 265.55 hours for those 21 days. Now is that 12.64 hours a day..assuming she didn't take a sickie or was late..We have the making of a New Cooking Show here.
 
This may explain where they hope to get their funding :


http://www.equititrust.com.au/Pdfs/...eports - 20130228 - Circular to Investors.pdf

Very retarded approach, they let McIvor slip away with $800,000 and did nothing about and now want to do sham investigations in July ??? You have got to be kidding. Why didn't they pounce when they had a chance, hang on that's right they were appointed by McIvor and cast a blind eye in terms of getting the financial statements from him...



 
Where is the culprit

Whilst the retiree investors burn, where is McIvor ??? Enjoying his luxury lifestyle with wifey Stacey ???

Shameful...
 
Re: Where is the culprit

No Trust said:
Whilst the retiree investors burn, where is McIvor ??? Enjoying his luxury lifestyle with wifey Stacey ???

Shameful...
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We know where they are, living life on their ill gotten gains now disguised as Super, it's where they are going that's the question. Mcivor the Al Capone of the Gold Coast should go down the same way that Dodo went. At the hands of the Tax Office. The Narcisist Mcivor boasted loud AND PUBLICALLY that he and his family amassed $100million that's ONE HUNDRED MILLION DOLLARS IN PROPERTY. Please explain......how do you do that declaring $200kper annum.

Hiding behind bankruptcy won't protect you from an examination by the Commonwealth. Has any of the receivers referred this matter. They won't out run the tax office. MILLIONS AND MILLIONS in their Super Funds and one of them did little more than make the coffee. Sorry ... She spent the money, our money with enthusiasm.

Mr Taxman.....please explain!
 
Re: Where is the culprit

Karma has a way of making ill gotten gains disappear...


 
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