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Today's Gold Coast Bulletin Page 21 Business more coverage of what McIvor did to his poor elderly mother (also his former partner in nefarious activities over the years)... Her home is to now be auctioned all because of McIvor...

If he can treat his mother in this despicable manner all under the cover of darkness, what chance did any of the innocent elderly retiree investors have...

Disgusting behaviour, on McIvor's part yet given her prior ambivalence to her sons nefarious activities which directly benefitted her, its Karmic that she's now on the street. Both her and her sons behaviour put others on the street and yet they thought it would never come home to roost...
 
Today Gold Coast Bulletin

Gold Coast Bulletin

Page 59 Business

Bizzy Bits

Loser of the week

Janice McIvor

"A victim of blind faith in her son, Mark McIvor, the bankrupt founder of the failed Equititrust merchant bank, Janice McIvor is set to lose her family home at Currumbin, with receivers to auction the property later this month. Mrs McIvor was forced out of the home by a bank over a $9.5 million debt, despite a court finding her son had used ‘‘undue influence’’ to get his elderly mother to sign up for massive mortgages to help his business."
 
Wait for more media attention and revelations in the coming weeks... Mark's world is heading towards the precipice...

Bullying people and tormenting old people and throwing them out of their homes has come home to roost... His business career is over forever and the revelations from the public examinations are yet to be revealed...

Bye bye Marky Boy
 
ARREST MCIVOR

THE LIQUIDATOR MUST MAKE APPLICATION TO THE SUPREME COURT TO HAVE MCIVOR ARRESTED as they have outlined in their latest report... He has thumbed his nose at the authorities and now the court... ASIC needs to make an example of him... The money lost by innocent elderly investors was not a small sum...

For those who want McIvor arrested please voice your support by emailing the liquidator, the media, ASIC and your Federal Member after the election or voice your opinion on this thread. SOMETHING HAS TO BREAK and force this idiot to fulfil his statutory duties... HE CANNOT BE ALLOWED TO ESCAPE JUSTICE...
 
Justice for ALL

Justice for Equititrust investors is long overdue. Could ti be more than coincidence that the longer justice is denied the more money DAVID TUCKER, DAVID WHYTE and others suck from OUR remaining value?

I now believe Mark McIvor deserves all the justice coming his way but the idea that he acted alone just doesn't stack up. When you look a bit more closely and see the pattern, just for starters, in what happened to MFS, Equititrust and now LM you quickly realise that DAVID TUCKER, DAVID KENNEDY, DAVID ANDRESON, DAVID WHYTE, AMANDA BANTON, all have very serious explaining to do. Got to remember that Mark can't even hang onto the family home... where do we now need to look for the missing millions?!

It would be convenient for a few if Mark gets used as scapegoats but it won't help suffering investors. What can you expect to squeeze from a bankrupt? Us investors need to look at ALL the people involved and, s the saying goes, FOLLOW THE MONEY.
 
I think NoTrust's 1500+ posts of targeting McIvor as the sole culprit in the piece is pretty narrow and very, very obviously based on personal attack. Sure McIvor needs to be held to scrutiny but so do ALL the directors, executives and anyone else who has been making a profit on our misery.

DAVID TUCKER of TUCKER and COWEN took plenty of money in fees as a long serving director of this disaster and now that that ride has come to an end he is pulling even ore out, just like DAVID WHYTE of BDO, in fee after fee after fee but investors have not seen ONE CENT!

DAVID KENNEDY and DAVID ANDERSON were at MFS when that went belly up then arrived at Equititrust just in time to see that fund get into strife? Surely that deserves closer scrutiny?

I just worry that by focusing solely on McIvor investors are being lead up a dry gully, we need to FOLLOW THE MONEY!
 
Re: McIvor's Hit another Low


Good to see some of the McIvor pigeons coming home to roost but you have to ask, if they can't even hang on to the family home where did the millions go?

As many of the investors I still commiserate with say, the only people doing well out of it seem to be David Whyte & David Tucker, who have managed to suck millions in fees and charges out of the fund for doing god knows what, nothing that has put any money in our accounts, that's for sure. Our unit value keeps going down and down and down while David Tucker and David Whyte keep racking up huge fees.. Then you have David Kennedy and David Anderson, the ex MFS execs who seem to have the unfortunate distinction of leaving a trail of destruction and investor devistation behind them! It just doesn't add up.


If us investors are going to get anything back at all we better start looking beyond McIvor and looking at who else was involved. Maybe they should be losing their houses too!!!

I think us Equititrust investors should get together with LM and MFS investors to check this out. It makes you wonder what other funds have been paying these same people millions in fees and getting the big fat donut in return?
 
It starts and ends with McIvor, he controlled everything and was the sole shareholder... A closer look should be concentrated on his dealings with "King Con" where most of the money disappeared... McIvor led innocent elderly investors up a very very dry gully...

Are my posts personal, yes you bet they are , because McIvor is personally responsible... The others are just feeding on the carcass...


 
No Trust said:
It starts and ends with McIvor, he controlled everything and was the sole shareholder... ...
Click to expand...

What a very strange comment. There is no possible way NoTrust can know this with certainty. There were many directors and execs at Equititrust who pocketed millions, millions and million of OUR MONEY while working with McIVOR who walked away and now, like DAVID TUCKER, DAVID KENNEDY are to be found popping up or having been involved in similar debacles such as MFS and now LM. Why would you not want to thoroughly investigate their possible involvement?

There is not one good reason or a single benefit to investors to be had from totally ignoring people like TUCKER, KENNEDY, ANDERSON, and what role they may have played in the huge losses to investors. Why not have a full investigation? Isn't that in UNIT HOLDERS, BEST INTERESTS?

I can't understand why NoTrust wouldn't want the people who seem to be the only ones getting any money out of this disaster, MANY OF WHO WERE DIRECTORS AND TOP LEVEL EXECUTIVES AT EQUITITRUST to be completely ignored and the focus put solely on a bankrupt from who it will be very difficult for investors to get money from?

From an investor's perspective NoTrust's passionate determination to ignore THE ENTIRE EQUITITRUST BOARD AND EXECUTIVE and to ensure NO ONE BUT THE BANKRUPT MCIVOR gets even so much as thought of, let alone looked at, for their role DOESN'T STACK UP..

If NjoTrust really is a fellow unit holder why wouldn't they want to look everywhere to try and recoup unit holder money?

Looking back through this whole thread makes me think there could be more than a small amount of 'Look over there' going on. Focusing only on MCIVOR and ignoring DAVID TUCKER, DAVID KENNEDY, DAVID ANDERSON and the rest of the Equititrust board and management does ABSOLUTELY NOTHING for the real victims, us unit holders. Why would any unit holder suggest it?

Who would stand to benefit if no one but MCIVOR is investigated for their contribution to the disaster??? Not us unit holders that is for sure.
 
The reality is that Tucker, Kennedy etc are all named as people to be Publicly Examined... I'm all for that and if they find something well and good they should be held to account. The sad reality is, that McIvor did the deals and side deals with the borrowers, this was acknowledged by ASIC when McIvor tried to change terms with defaulting borrowers to the detriment of unit holders.

To implicate David Whyte, who was independently appointed by the Supreme Court is not only clutching at straw its ridiculous, the fact that David Whyte from BDO was again appointed independently by the Supreme Court to LM with the consent of ASIC is due to his experience and expertise handling the Equititrust disaster.

Conspiracy theories may be soothing but are not realistic, McIvor stuffed this whole thing up and the buck stops with him that's the reality...

I'm all for the directors being investigated and even McIvor's wife "Racy Stacie" and my posts are consistent with that so lets not put words into my mouth that aren't there...

Its all well and good to demand an investigation however who will pay for it ? In the end the unit holders will pay, no one else, so lets get realistic...

ASIC Statement - David Whyte BDO

Reasons for appointment:

http://www.4-traders.com/news/ASIC-...mmi--Receiver-appointed-to-LM-fund--17178100/


- - - Updated - - -
 
The sad reality is that NoTrust has been on a one thousand five hundred plus post crusade to create a reality that exists only in one persons mind. That being that McIvor is alone in responsibility for the disaster and that the board and execs, DAVID TUCKER, DAVID ANDERSON, DAVID KENNEDY etc, who had been paid MILLIONS have no responsibility for their parts, at all, If you listen to NoTrust you would believe that CEOs, CFOs, directors and other company officers have no part at all in running their company! I think you will find that is complete rubbish.

The reality is that DAVID TUCKER helped appoint and made submissions to the court to get DAVID WHYTE to his current role and in that role DAVID WHYTE has engaged DAVID TUCKER of TUCKER & COWEN to act for and together they have billed absolute bucketfuls of dough to the fund and us unit holders have not received a single cent.

The reality is that DAVID KENNEDY and DAVID ANDERSON were both at MFS during that demise and that a very similar fete befell Equititrust not long after they were appointed.

The reality is that despite what NoTrust claims in his/her previous post he/she has put in an incredible effort to try and deflect any attention away from BOARD MEMBERS and SENIOR EXECS in terms of THEIR RESPONSIBILITY and there are 1500+ posts in this very thread that are the evidence that proves the point, so lets at least be realistic about that!

The reality is that if NoTrust really is a fellow unit holder he/she would know that we are already getting zero return and that any money left is being rapidly hoovered up by, you guessed it DAVID TUCKER of TUCKER & COWEN and DAVID WHYTE so the excuse that unit holders can't afford to see what extent former board members including DAVID TUCKER and EXECS KENNEDY, ANDERSON etc are responsible is specious. There is money there, it is just going in different directions and that sure isn't to us investors!!!

The reality is that UNIT HOLDERS' INTERESTS will be best served by discovering and holding to account EVERYONE who was responsible for the decimation of our savings.

The reality is that even suggesting this seems to make NoTrust uncomfortable. WHY?
 
Conspiracy Theories Abound...

- - - Updated - - -

If you had actually read any of my posts over the many years this thread has been running, you will see how idiotic your comments are...

I have strongly advocated the pursuit of all of those you have mentioned including David Tucker... The sad fact is though that the buck stops with McIvor, it’s as simple as that... He did the deals and side deals with the borrowers, it’s been documented in a Supreme Court Judgement...

I wish you all the very best in your pursuit of an investigation into your conspiracy theories. But let’s get real now and answer the following questions:

1. Who will conduct the investigation ? You ?

2. Who will fund the investigation ?

3. What role do propose ASIC playing in all this as they appointed David Whyte. Do you envisage ASIC removing David Whyte as Receiver of the funds based on your conspiracy theories ???

4. What evidence do you have about David Whyte in this conspiracy theory of yours ?

I don't really give a damn about the others including Tucker but to allege anything untoward about David Whyte , who ASIC appointed independently is absolutely idiotic... You have the thread here to present your evidence and unless you can do so, all you have is nothing but a conspiracy theory...

If there are to be Public Examinations I again wholeheartedly endorse a thorough investigation of the former directors and senior executives...

In terms of who ran the company and from when you will see that your assertion is Complete and Utter Rubbish as McIvor made all the loans before the stooges were brought in... Do some homework before making statements that you clearly cannot back up with facts...
 
On a more positive note its good to see the thread about to hit 380,000 views...


Its also good to see Marky Boy still avidly reading the thread and reminiscing on the lives he has ruined...

Lets hope the Liquidator follows through and we see the white haired ghost who walks arrested and in handcuffs in the Supreme Court...
 
Well, that is quite an outburst. I apologise for touching a nerve but I'm still at somewhat of a loss as to what motivates NoTrust's obvious personal vendetta against Mark McIvor given that NoTrust is unlikely to be an investor and, more curiously, has again demonstrated a dedication to diverting any attention away from directors and executives. How does this help unit holders?

Quite ironic that NoTrust speaks of conspiracy theories at the mere suggestion that we should look at DAVID TUCKER of TUCKER COWEN, the ex director who made submissions to the Supreme Court that helped get DAVID WHYTE of BDO appointed as receiver who is now using fund money to pay DAVID TUCKER of TUCKER COWEN to do God knows what. Not get any money back to unit holders that is for sure. I find it more than a little strange that the same two, DAVID TUCKER and DAVID WHYTE are involved in the same way at another distressed fund, LM.

NoTrust demands answers to his/her questions but it is a standard that he/she doesn't think applies to him/her. Seriously, how in the hell can NoTrust be certain that it 'starts and ends with McIvor'? What proof is offered that former MFS execs DAVID KENNEDY and DAVID ANDERSON have nothing to answer for, or DAVID TUCKER of TUCKER COWEN or any other of the board and exec team? Of course the answer is that NoTrust can't be sure at all, so who stands to gain from constantly repeating the assertion? Again, not us unit holders.

The dissembling attempt to dissuade any interest in DAVID TUCKER of TUCKER COWEN, DAVID WHYTE of BDO, DAVID KENNEDY, DAVID ANDERSON and others on the grounds that there is no personnel or money to conduct such enquiries is of course specious.

Really all of this argument from NoTrust looks like it is just obfuscating sound and fury, in reality it comes down to common sense. The idea that none of the board or senior executives, lawyers, accountants, auditors etc who were pulling down MILLIONS AND MILLIONS in fees and salaries have any case to answer for what happened to us at Equititrust is arrant nonsense.

Frankly I'm a little concerned at how much effort and vitriol NoTrust has expended trying to breath life into the unsubstantiated fantasy that 'it starts and ends with McIvor'. Who stands to benefit from this canard?
 
What a bizarre rant by Nordrum.

I thought that I had retired from posting on this site but when someone posts comments as silly and as uninformed as Nordrums, I had no choice but to drag myself out a retirement. I didn’t think I’d see the day that I agreed with No Trust on this site but I do.

Maybe Nordrum had a bad experience with someone named David in the past so he now has a vendetta against all Davids.

How could any rational person implicate David Whyte in the collapse of Equititrust? He was independently appointed by the Court. Trying to blame David Whyte is like blaming a funeral director for the death of his customer because he is getting paid to deal with the deceased. Does he think David Whyte should do the job for free?

Nordrum says Whyte should be investigated because he is using Tucker as his legal advisor. I don't know where he gets this from but that’s not what it shows on the Equititrust website – it shows Whyte is using Gadens in Brisbane as his advisor. If you look at the fee application this is clear. Even if he was using Tucker and Cowen this would not necessarily be an issue.

I agree that the other Davids, Tucker, Kennedy and Anderson should be investigated but I suspect this would be an ordinary part of the role of the Liquidator/Receiver/ASIC. Having spent many years on the Gold Coast it is my understanding that all three have a lot of experience as insolvency practitioners on the Gold Coast (either as Lawyers or Accountants) so it is hardly surprising to me that they pop up on two of the Gold Coast’s biggest insolvencies over a 4 year period. Their involvement alone does not constitute guilt. By all means investigate them.

Nordrum makes some claims that I suggest he has made up. He says Tucker, Anderson and Kennedy were paid millions by Equititrust. Where does he get this number from? I would be gobsmacked if they were paid anything like this knowing how much business people get paid on the Gold Coast. He also says there were “many Directors and Execs at Equititrust who pocketed millions”. Who were they and how does he know this? It certainly doesn’t stack up with the fund accounts I have seen or the people I have spoken to.

Nordum says that Kennedy and Anderson arrived at Equititrust “just in time to see that fund get in strife”. How does this make any sense given they appear to have arrived at Equititrust in 2010 yet the funds were frozen in 2008 and banks were demanding their money back in 2008, some two years prior.

Nordum says Tucker was “a long serving director” yet he was only a director for a year – hardly what one would normally describe as long serving.

For good measure Nordrum even seems to have a go at Amanda Banton of Piper Alderman – how does this make any sense? Is he saying she is somehow responsible for the demise of Equititrust? A review of the various reports, website material etc shows she only came into the picture in 2011 after interest payments were suspended. So what if she is working on LM? A doctor works on sick people – it doesn’t mean he caused them to be sick.

I think it is right to investigate anyone who has held significant positions in a company that collapses. That alone doesn’t mean they are responsible nor does it mean there is any wrong-doing on their part. It just makes sense.

As I think I have said before, from what I have seen and from what I am told, the main cause of the collapse of Equititrust seems fairly obvious - it borrowed too much money, lent it to bad quality borrowers based on questionable valuations and they didn’t move fast enough to call in the loans when things went wrong. All of these decisions were made solely by McIvor long before any of the “Devious Davids” had anything to do with Equititrust. In the circumstances it seems sensible to me to have the main focus on McIvor without completely ignoring others involved.

Finally, I note that Mcivor is the one that has been uncooperative according to the various Receivers and Liquidators reports. It is his house that was raided by police. I have seen no such allegations about the other directors/execs. In these circumstances why wouldn't McIvor be the primary target?

Obviously No trust has his own reasons for targeting McIvor so vehemently. I don't think many investors would object to this. There may have been other crew on board but McIvor was clearly the one flying the plane.
 
I too would never have thought I would agree with Goldie10. But his post and reasoning regarding Nordrum's idiotic comments is spot on...

McIvor solely created this unmitigated disaster by doing deals with the likes of "King Con" and varying mortgage terms with defaulting borrowers against the advice of former directors, this is well documented in a Supreme Court Judgment...

Before anyone is investigated the "sole shareholder" of Equititrust - McIvor needs to be investigated. Why is he avoiding the Public Examination and refuses to provide documents ??? Its because he has something big to hide and sitting in the witness box is well........ a bit too much for him to handle ... Its quite disgusting that an officer of the court by virtue of his profession as a solicitor is allowed to conduct himself in this manner and thumb his nose at receivers and liquidators for disaster of epic proportions that he created...

McIvor has ruined many many lives including that of investors and other people who he thought he could bully... Karma has taken the money and "dirt" as he would call it all away from him, however this is not the final act in terms of his spiral into the abyss... His impending arrest and forced appearance in front of the court and media will unravel much much more leading to his final downfall...
 
Smoke and Mirrors

Well its seems smoke and mirrors have always been McIvor's modus operandi, posting under assumed names on this site then tracked back to Equititrust computers..

http://www.couriermail.com.au/busin...-words-escalates/story-e6freqmx-1226013111852


Nordrum is diverting the attention from McIvor onto other people which when you look at Nordrum's first post on this thread it all makes sense...

23 November 2012 Post # 2902

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. "


Interesting reading, from someone who admits they worked at Equititrust and was an investor. Someone who hates Amanda Banton, David Tucker, David Kennedy, David Whyte and even Janice McIvor, McIvor's Mother ...........................................................

The devil's greatest trick is to persuade you he doesn't exist...
 
Seems the idea that anyone other than McIvor having anything to do with the Equititrust disaster brings out the crazy in the resident conspiracy theorist!

No matter how hysterically or how often NoTrust tries to mount a defense for the actions of DAVID TUCKER of TUCKER COWEN, ex MFS BOYS DAVID KENNEDY and DAVID ANDERSON and BDO's DAVID WHYTE with all manner of ad hominem, false equivalency and half truth verbiage the fact remains:

These are ALL people who were/are paid MILLIONS to LOOK AFTER UNIT HOLDERS MONEY and one way or another THEY ARE/WERE GETTING THE MONEY WHILE WE GET THE DONUT!

Obviously only a mad person would bother looking at whether any money can be redirected from that lot to us unit holders. Especially considering the wonderful job they all did looking after us!
 
Marky Boy, I will address you directly, the delusional finger pointing at those who you appointed after you made the loans will not save you... You made the bad loans in dealing with "King Con" etc etc and ruined investor's lives... In line with a psychopathic nature you will never take responsibility yourself... What do you want sympathy, change public opinion about you, don't see anyone lining up to defend what you did...

For those who know you well, the language used in your posts gave you up... "Dry Gully".

To say that I have defended David Tucker (your former bestie, who ultimately saw who you really are) and the MFS fools you appointed is a joke. People aren't stupid and can read my posts over the last 3 years. You cant change history with a couple of idiotic posts trying to be someone concerned for investors when in fact your actually concerned about yourself. Too much spare time on your hands lately mate...

In terms of David Whyte, I have and will continue to defend him as he is doing a marvellous job cleaning up your mess. The fact that he is dealing with you in an appropriate manner is also very very satisfying... Hope you never see a dollar of that super money you so desperately want.

Thanks for your contribution, I will let you get back to sucking your thumb in the foetal position in a dark cupboard whilst reminiscing on your stellar life achievements in ruining the lives of innocent elderly Australians...

"The devil's greatest trick is to persuade you he doesn't exist"...

 
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