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Equititrust?

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More Scandal Brewing

The McIvor's really know how to get themselves into the papers, "for the wrong reasons"... Another scandal is brewing that they would like to keep under wraps... What will be the next scandalous headline ??? One is coming which is eye watering... Who spilt the beans and why is the family feuding ??? Tick tock tick tock...

Note: Marky Boy didn't the old man on the hill teach you anything... Time to mediate and contemplate karma...
 
More Information Flooding In

More Information regarding " Marky Boys" nefarious activities are flooding in... Quite a bully he was over the phone but not so tough in person... Actually quite the coward :)

His Modus Operandi seems to have been to applied to immediate family as well... Just read the articles about how he spoke to his mother... The information flooding in now though takes this behaviour to another level and includes other victims both business and "personal"...


http://www.theaustralian.com.au/new...22m-in-mortgages/story-e6frg6n6-1226519911766
 
Court Proceedings by Liquidator

The Court proceedings by the Liquidator in regard to the EIF will be telling... McIvor will have to sit in a witness box and be cross examined...
 
Re: Fees

No Trust said:
What gets me is why "All Barren" by name and by nature, lied at the last meeting and said no fees would come out of the income funds... Is it because he though he would get the $2.8M in Management Fees reversed...

Well their scam backfired on them and now David Whyte has sent them a bill instead...

Lets see how he answers that question at the meeting.
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Just read the latest report from Hall Chadwick.
NO TRUST was on the ball 4 1/2 years ago.
 
Re: Fees

Some insolvency practitioners are bottom feeders who will feed off the carcass until the bones are bare...

meridian said:
Just read the latest report from Hall Chadwick.
NO TRUST was on the ball 4 1/2 years ago.
Click to expand...
 
https://www.leaprate.com/2016/10/former-equititrust-ceo-remains-permanently-banned-from-providing-financial-services/

Former Equititrust CEO remains permanently banned from providing financial services
By: Valentina Kirilova October 19, 2016

Former Equititrust CEO remains permanently banned from providing financial services

Mr Mark McIvor, former chief executive officer and founding director of Equititrust Limited (in liquidation) remains permanently banned from providing financial services after withdrawing an application to the Administrative Appeals Tribunal (AAT) to appeal against ASIC’s original banning decision.

Mr McIvor has been permanently banned from providing financial services on 2 September 2015 following an earlier ASIC investigation into the collapse of Equititrust. At that time, Equititrust held an Australian financial services (AFS) licence and was the responsible entity of two registered schemes; Equititrust Income Fund (EIF) and the Equititrust Priority Class Income Fund (EPCIF) and was also the trustee of Equititrust Premium Fund (EPF); an unregistered managed investment scheme.

An ASIC delegate has found that whilst he was the director of Equititrust, Mr McIvor contravened a financial services law and was not of good fame or character to provide financial services. His conduct involved breaches of the financial services legislation which were considered to be very serious, repetitive, prolonged and dishonest.

In particular, the ASIC delegate found that Mr McIvor contravened financial services laws by:

signing 28 board meeting minutes, which falsely recorded a board meeting to approve a loan application had occurred, when no such board meeting had taken place, and in doing so, Equititrust did not meet its obligations under EIFs Compliance Plan; and
failing to take all the steps that a reasonable person would take, if they were in Mr McIvor’s position, namely to ensure that accurate, true and correct documents were relied upon for compliance checks and not be involved in the production of false documents.

Mr McIvor has subsequently filed applications for a review of ASIC’s decision to permanently ban him from providing financial services and to stay the operation and implementation of the banning order. The stay application has been refused by the AAT (refer 16-181MR) and on 1 September 2016, Mr McIvor withdrew his application for review of ASIC’s decision to permanently ban him from financial services.

ASIC Commissioner John Price said Mr McIvor’s conduct was at the most serious end of the offending range and that it was appropriate he be permanently banned from providing financial services.

People who provide financial services, especially those in senior management positions, are required to discharge their obligations under financial services laws efficiently, honestly and fairly. ASIC will ensure those who fail in these duties are removed from the industry,’ Mr Price said.
 
Winter is Coming

There are some dark dark storm clouds hanging over McIvor's head... Some new evidence has emerged and is now being provided to the "appropriate authorities"...

Stay tuned for developments...
 
Yeah the stench is not leaving the public spotlight... ASIC have not finished…

Nothingtoadd said:
https://www.leaprate.com/2016/10/former-equititrust-ceo-remains-permanently-banned-from-providing-financial-services/

Former Equititrust CEO remains permanently banned from providing financial services
By: Valentina Kirilova October 19, 2016

Former Equititrust CEO remains permanently banned from providing financial services

Mr Mark McIvor, former chief executive officer and founding director of Equititrust Limited (in liquidation) remains permanently banned from providing financial services after withdrawing an application to the Administrative Appeals Tribunal (AAT) to appeal against ASIC’s original banning decision.

Mr McIvor has been permanently banned from providing financial services on 2 September 2015 following an earlier ASIC investigation into the collapse of Equititrust. At that time, Equititrust held an Australian financial services (AFS) licence and was the responsible entity of two registered schemes; Equititrust Income Fund (EIF) and the Equititrust Priority Class Income Fund (EPCIF) and was also the trustee of Equititrust Premium Fund (EPF); an unregistered managed investment scheme.

An ASIC delegate has found that whilst he was the director of Equititrust, Mr McIvor contravened a financial services law and was not of good fame or character to provide financial services. His conduct involved breaches of the financial services legislation which were considered to be very serious, repetitive, prolonged and dishonest.

In particular, the ASIC delegate found that Mr McIvor contravened financial services laws by:

signing 28 board meeting minutes, which falsely recorded a board meeting to approve a loan application had occurred, when no such board meeting had taken place, and in doing so, Equititrust did not meet its obligations under EIFs Compliance Plan; and
failing to take all the steps that a reasonable person would take, if they were in Mr McIvor’s position, namely to ensure that accurate, true and correct documents were relied upon for compliance checks and not be involved in the production of false documents.

Mr McIvor has subsequently filed applications for a review of ASIC’s decision to permanently ban him from providing financial services and to stay the operation and implementation of the banning order. The stay application has been refused by the AAT (refer 16-181MR) and on 1 September 2016, Mr McIvor withdrew his application for review of ASIC’s decision to permanently ban him from financial services.

ASIC Commissioner John Price said Mr McIvor’s conduct was at the most serious end of the offending range and that it was appropriate he be permanently banned from providing financial services.

People who provide financial services, especially those in senior management positions, are required to discharge their obligations under financial services laws efficiently, honestly and fairly. ASIC will ensure those who fail in these duties are removed from the industry,’ Mr Price said.
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New Expose

There is a new expose under way by a National Media Organization into "Marky Boy" ... To put it mildly it ain't pretty... A number of "ex employees" and "Service Providers" have apparently agreed to be interviewed as to the inner workings of Equititrust prior to its collapse. The phantom board meetings leading to McIvor's Life Ban by ASIC will also get a mention...
 
Mozzi said:
Total silence from the meeting at Watermark Hotel last Friday! Anyone attend apart from Hall Chadwick and if so

would anyone care to comment on any outcome from that ? Remuneration, Committee of Inspection, any other

business etc. etc. ?
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approx. 13 investors at meeting...H.C. costs were discussed for approval by investors present as court approval would cost an additional $100,000. (not accepted).. Two additional investors were appointed to the COI ..
 
No Bills - No Thrills

Wow... Not having the exorbitant and illegal Management Fees reversed has truly put a cog in the Fee Wheel of Hall Chapstick... David Whyte tore these Ass#oles a third one... Excellent work David Excellent...

Lesson to be learnt by Hall Chapstick sleep with dogs, wake up with fleas.
 
Para 2.2

http://www.equititrust.com.au/Pdfs/...rts - 20160831 - 27th Report to Investors.pdf

I have a theory in life... When you act like a b#tch you get taken down like a b#itch...

Hall Chapstick contradicted themselves throughout the entire proceedings. I have documented this on the thread in detail...

Now they want payment and have no where to go... Their appointment was nothing more than a scorched earth policy by McIvor in the last dying days of the decaying corpse of Equititrust...
 
Ian Lazar Reports

http://www.vimeoinfo.com/video/93213014/ian-lazar-reports-on-asic-and-compliance


http://www.abc.net.au/4corners/stories/2014/04/07/3977771.htm

King Con, Ian Lazar quite a motley crew McIvor lent to at the expense innocent retiree investors...

This was one seedy operation, did Tony Bawden , Chris Buist etc manage to pull their money out in time ?

Future Mother in Law to be, poor old Bea Jeans seems to have not heeded the warnings and took a good ol Kiwi Face Plant financially to the tune of millions...
 
No Trust said:
Para 2.2

http://www.equititrust.com.au/Pdfs/...rts - 20160831 - 27th Report to Investors.pdf

I have a theory in life... When you act like a b#tch you get taken down like a b#itch...

Hall Chapstick contradicted themselves throughout the entire proceedings. I have documented this on the thread in detail...

Now they want payment and have no where to go... Their appointment was nothing more than a scorched earth policy by McIvor in the last dying days of the decaying corpse of Equititrust...
Click to expand...



Perhaps Hall Chadwick should actually go along cap in hand to the person who appointed them, maybe he has a few pennies stashed away somewhere he could spare. Perhaps they will have more luck than the rest of us.

Yeah right!!!!
 
Mozzi said:
Perhaps Hall Chadwick should actually go along cap in hand to the person who appointed them, maybe he has a few pennies stashed away somewhere he could spare. Perhaps they will have more luck than the rest of us.

Yeah right!!!!
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Hall Chadwick report to investors 28th May 2013.
Asset Realisations.
A refund was received from the A.T.O.for Company Tax for the amount of $2,240,337.00 on 14th March 2013.
The refund was in relation to company tax and does not concern any of the funds for which the Company is the Responsible Entity.
Further details with respect to the income Tax Refund will be provided in a comprehensive update to all creditors in due course.
Does anyone know what happened to $2,240,337.00 ?
 
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