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Equititrust?

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Claims Against Directors

http://www.jonesday.com/class-action-drivers-in-australia-do-insurance-and-access-to-deep-pockets/

"Claims Against Directors

Central to the applicant's reasons for seeking a discontinuance was that the directors' and officers' liability policy which responded to the claims was capped at a confidential figure but that the policy was, or would soon be, exhausted.

The policy had been used to meet defense costs of the settling respondents in defending the present proceedings. The policy also responded to other claims, including a civil penalty proceeding brought by the Australian Securities and Investments Commission in the Supreme Court of Queensland against three of the settling respondents. Consequently, upon the basis of estimates of anticipated future legal costs, no insurance moneys were expected to be available to meet a judgment in the current proceedings. Further, evidence established that each of the settling directors had insufficient assets to meet a judgment."
 
Re: EIF Receiver - David Whyte

ASICK said:
Seems even with the big bucks, your Mr. Whyte isn't compelled to keep punters up to date on a monthly basis - not even a little monthly "thank you" for the hundreds upon hundreds of thousands of dollars in fees BDO has receipted from the EIF - it seems to me that BDO should be grateful, after all, any receiver could do their job, but it's your fund paying the big bucks.

http://equititrust.com.au/Pdfs/Receiver/Receivers Reports - 20130418 - 12th Report to Investors.pdf
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No investor update for 2 and half months from David Whyte.

Wirrina Cove resort and golf course failed to sell at auction last Friday, nor surprises there, it loses $1 million per year and BDO want $3m for it. They have managed to sell all the blocks of land though, for a pittance (most under $100k per block), and are flogging off the last of the marina sites for $1000 per lineal metre.
 
Public Examinations

Public Examinations... Investor's now demand them !!!

Hall Chadwick had better give a firm date soon...
 
My oh my... Put the knife into others and expect the same blade to penetrate the flesh...

The many innocent people who McIvor unleashed receiver's on are now looking on with bemusement...

The McIvor's have really hit rock bottom... Laughing stock of the Gold Coast with "all" the dirty family laundry aired... Or are there more dirty little secrets which the "white haired ghost who walks"(barely) would rather not have unearthed...

"Marky Boy" its too late, if the Public examinations do go ahead that's when you will face your hidden secrets, the witness box is a phenomenal place to have your own words played back to you...

Tick Tock, Tick Tock, Tick Tock


word75 said:
Latest update on the disputed Conivor's Treasure. Well it seems the The Man Cave hoarding the Mcivor art and furniture spoils on Cronin has finally been dismantled. It appears the bulk of anything of value such as the art work and sculptures was surrendered to FERRIERS while Stacey The Jackel scavenged over the remains dragging the personal furniture ie: all the bad taste crap and kids beds back to the Mcivor humpy on Solerno Drive.

It was an embarrassing day as Crazy Stazy argued tooth and nail with the receivers over every morsel of her last feast at the Equititrust table...yes she got the horrible 20 seat round table.

No knights to sit at this table, no table of knowledge, just an ugly edifice of greed and averice. I hope it serves up a dose of karma every time they sit down to it.
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No Trust said:
My oh my... Put the knife into others and expect the same blade to penetrate the flesh...

The many innocent people who McIvor unleashed receiver's on are now looking on with bemusement...

The McIvor's have really hit rock bottom... Laughing stock of the Gold Coast with "all" the dirty family laundry aired... Or are there more dirty little secrets which the "white haired ghost who walks"(barely) would rather not have unearthed...

"Marky Boy" its too late, if the Public examinations do go ahead that's when you will face your hidden secrets, the witness box is a phenomenal place to have your own words played back to you...

Tick Tock, Tick Tock, Tick Tock
Click to expand...




Nothing much changed while you've been offline - BUT WELCOME BACK! Wasn't quite the same without "NO TRUST"!
 
Re: Public Hearings

Any word on the Hall Chadwick claim a few months back that public examinations would be held in late July? We are almost at that part of the calendar. Or are Hall Chadwick just wanting to let that commitment silently slide past? If they are going to be held I am sure that some folk would be prepared to climb Mount Everest if that's what it took to be able to attend?
 
Nothing from Hall "Pass" Chadwick, no updates just a lot of talk. Maybe they should be put into the witness box instead and questioned about letting McIvor off the hook in not providing his statement of financial affairs...

Useless liquidators out to fill their own pockets and rip off the investors...

- - - Updated - - -

Here's a challenge, they can respond on this thread if they would like to update investors... Don't hold your breath for a resone from these gutless wonders...
 
Just a question are Hall Chadwick to be removed as liquidator's of Equititrust ??? Any further information would be greatly appreciated...

- - - Updated - - -

Something's going on...
 
No Trust said:
Just a question are Hall Chadwick to be removed as liquidator's of Equititrust ??? Any further information would be greatly appreciated...

- - - Updated - - -

Something's going on...
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Not aware of H C movements (non existent?)

However, Mr Whyte does need to get another report in soon for us (somewhat overdue). Busy Man!

Is he involved in work for LM Investments? Something on line about 3 day court hearing on 15th July and affidavits from Mr Whyte among others (looking for more work maybe???)
 
Public Examinations

Where are the Public Examinations promised by "Hall Chadwick"... Why are they protecting McIvor??? Hang on he appointed them,,, that's right...

Hall Chadwick are a joke...
 
Legal Proceedings Against the Dynamic Duo

Looks like the bankrupt "Marky Boy" and "Racy Stacey" are not out of the woods yet with legal proceedings still on foot in the Supreme Court. Old time pal David Tucker who bankrupted McIvor must be having a chuckle representing the Liquidator of another one of the dynamic duo's failed companies...

http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=2954/12

Its not over yet Marky Boy,,, how much are you going to give back to the old people who's money you lost on "King Con" etc, etc, etc ...

McIvor what a disgrace...
 
Mozzi said:
Not aware of H C movements (non existent?)

However, Mr Whyte does need to get another report in soon for us (somewhat overdue). Busy Man!

Is he involved in work for LM Investments? Something on line about 3 day court hearing on 15th July and affidavits from Mr Whyte among others (looking for more work maybe???)
Click to expand...




Well, here it is at last! Mr Whyte's report! Off to study it now..........................
 
Not looking good, return to investors dropping again and distribution delayed again...

McIvor really left a god awful mess, what a loser, has ruined the retirement of many many innocent people...

McIvor will never raise another dollar from the Australia public again...
 
Public Examinations

Hall Chadwick promised Public Examinations in late July... No updates, no sign of Public Examinations... Why the lies??? A lot of people want to see McIvor in the Witness Box. The public gallery will be full...
 
Backflip with a Twist

In an amazing backflip with a twist Hall "Pass" Chadwick despite PROMISING to conduct Public Examinations of McIvor have now gone back on their promise... Am I surprised???? No... This lot calling themselves professionals have also on 2 occasions promised not to seek payment of their fees from the funds i.e. The blood and sweat of innocent retiree investors and then went back on that without an iota of shame. If it was not for David Whyte of BDO the "Independent" "court appointed" receiver shaming them on the Equititrust website these jackals may have got away with it.

David Whyte was right to bring this to the attention of investors and now its time to expose these incompetent's lies and deceit in promising Public examinations and then at the "last minute" cancelling them. ASIC should take a close look at Hall Chadwick's actions and the Hall Pass they have given McIvor to date. Remember this was the same "allegedly professional" group of bean counters who let McIvor off the hook in not providing his Statement of "Financial Affairs" as required by law... Its just a joke...

I urge all investors to make formal complaints to ASIC about this latest farce from Hall Chadwick. Their latest statement on the Equititrust website gives no reason for the cancellation of the "LONG AWAITED" Public examinations... Why should Hall Chadwick be trusted any longer ??? Simple answer they cant be trusted, they have let the investors down one time too many... Isn't it time the Regulator removed Hall Chadwick from this appointment as its clear there is a conflict of interest which is having a detrimental effect on Equititrust investors...
 
Today's Gold Coast Bulletin Page 44

Looks like McIvor's last property holdings are to be sold off by Liquidators... The land is in Oxenford and by the looks of current resales listed on the same page there will be a major shortfall...

The bankrupt McIvor has really made some doozies when it comes to investing in property.... Imagine he then went on to manage others people's money and risked a massive amount on his ever so close bussom buddy "King Con"... Look how that worked out... Investors likely to get zero in the dollar the way it's going...

Nice work Marky Boy...
 
No Trust said:
http://www.smh.com.au/business/opes-prime-director-smith-dismissed-risk-alert-20130725-2qna3.html

Imagine what they would find at Equititrust... ASIC really needs to expand their investigation and thoroughly review the material taken when Equititrust's offices and McIvor's former home were raided...

These things take time and McIvor may face trial yet on the collapse of Equititrust... ASIC didn't raid his home and offices for nothing...
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YUP! Here's another one - Read today's Age Business Day re LM fund and the ever so charming Mr Peter Drake, do you think if you change the name, the story is the same - they are all on the game!!!!

Is there anyone out there listening?
 
Gold Coast Cowboys

Gold Coast Cowboys McIvor , Drake they're all the same..

http://www.brisbanetimes.com.au/business/lm-fund-gave-loan-to-drake-20130728-2qsnp.html

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The bankrupt Mark McIvor needs to be investigated further... Where did all the money go that the liquidator identified as being withdrawn without invoice and connected to interests related to McIvor... Wifey Stacey also a former director needs to be included in these investigations...

Despicable behaviour of greed and self interest... Innocent retiree investors get screwed out of their money...
 
McIvor Superannuation Claim exposed by the media

Under the heading " More woe for Equititrust Investors " Quentin Tod from the Gold Coast Bulletin on Page 27 (todays edition) exposes McIvor's dodgy trust deeds that he tried to pass off on to receiver David Whyte.

Good to see the document switcheroo employed by McIvor exposed publicly for all to see... Absolutely disgusting greed driven behaviour whilst investors will ultimately get nothing.

Lets hope ASIC do their job and prosecute McIvor... It's what he deserves for losing innocent elderly retiree's life savings...

He will never raise a single dollar from the Australian Public again...
 
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