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Equititrust?

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Many of the individuals on the "list" will have to carefully consider their answers to the court...
 
The legal counsel for the Liquidator's may be throwing a few bombshells at the hearings...
 
INVESTIGATION
I have been informed that a collateral investigation of a serious nature has begun. This one has come out of left field... Focus on Equititrust disaster and associated protagonists / sycophants...
 
WELL WELL WELL ...
http://www.equititrust.com.au/Pdfs/...orts - 20170201 - Report to the Creditors.pdf

• The subject matter of the claims under investigation is highly sensitive. There are also issues of confidentiality and legal professional privilege. The claims are the subject of written opinions from two separate Senior Counsel. Those opinions, and substantial other evidence, were tendered to the Supreme Court of Queensland on the application for approval of the litigation funding agreement and the retainer of Russells. The proceedings in the Supreme Court of Queensland have, for those reasons, been sealed, by order of Justice Burns made on 1 December 2016.
 
BOOM BOOM

2. Statutory Investigations
As creditors are aware from my previous report, ASIC has requested that a supplementary Section 533 report be prepared which the Liquidators are in the process of preparing.

http://www.equititrust.com.au/Pdfs/...orts - 20170201 - Report to the Creditors.pdf



No Trust said:
INVESTIGATION
I have been informed that a collateral investigation of a serious nature has begun. This one has come out of left field... Focus on Equititrust disaster and associated protagonists / sycophants...
Click to expand...
 
Nefarious Dealing at the expense of poor innocent retiree investors ... Did anyone give a damn about them ??? These examinations and new investigations by ASIC should provide insight that has not been exposed before... Information I'm receiving is that its "EXPLOSIVE"...
 
Speculation is rife as to who the Liquidators and ASIC are gunning for... "Dirty deals and they're done dirt cheap"...
 
6. Federal Court Examinations
Following the receipt of information from former directors of the Company and certain beneficiaries of the EPF, provided in confidence, I commenced investigations in relation to various transactions. A summary of the key events and action taken to date is listed below:

http://www.equititrust.com.au/Pdfs/Liquidator/Liquidators Reports - 20170201 - Report to the Creditors.pdf

No Trust said:
INVESTIGATION
I have been informed that a collateral investigation of a serious nature has begun. This one has come out of left field... Focus on Equititrust disaster and associated protagonists / sycophants...
Click to expand...
 
Summons to Appear are being served to relevant parties. Who will avoid service ?
 
There's a whistleblower amongst the ranks. Sometimes you need to beware of those closest to you.
 
"ORDER
REGISTRAR: DEPUTY DISTRICT REGISTRAR LYNCH
DATE OF ORDER: 22 February 2017
WHERE MADE: Brisbane
THE COURT ORDERS THAT:
1. The summonses for examination addressed to:
(a) Paul James Vincent;
(b) Russell McCart;
(c) Christopher Richard Cook
(d) Michael Richard Peldan;
(e) James Conomos; and
(f) Luke McKenzie
are adjourned to 10.00 am on 5 April 2017."

Looks like at least these will be in Brisbane and open to the public
 
Looks like a $2m payment is under review....on 8 March:

"THE COURT ORDERS THAT:
1. Pursuant to subsection 597(9) of the Act, Balmain NM Commercial Mortgages Limited CAN 074 619 980 is directed to produce at the examinations of Shane Beecroft, on 14 March 2017, the following books in their possession relating to the Company or its examinable affairs:-
(a) The trust account ledger or statement recording the receipt on or about 11 July, 2012 of the following sums into Commonwealth Bank Accont number 062 000 200012075495, styled “Balmain Trust”:-
(i) $666,667.00; and
(ii) $1,333,333.00;
(b) The trust account ledger or statement recording the name or names of the persons who deposited such sums, their address and the bank accounts from which such sum were deposited and all and any other information identifying the persons who deposited those sums; and
(c) The bank statement for the said bank account recording those deposits;"
 
Equititrust: pair bought finance group’s loan book for $2m ‘to make $26m’

"The former chief executive and the company lawyer of the Gold Coast’s failed $250 million Equititrust finance group bought key fund assets for $2m when they were worth 10 times that amount, a public examination in Sydney has heard."

"Former Equititrust CEO David Kennedy and Brisbane lawyer David Tucker of Tucker & Cowen Solicitors allegedly bought the outstanding “loan book” of Equititrust for $2m, later allegedly claiming they expected to make a “$26m return” on the deal."

"Mr Hayes said he had been contacted by Mr Kennedy and Mr Tucker, who were enforcing outstanding debts, and made to leave his $2m home on Sydney’s northern beaches. He said Mr Tucker, who had flown from Brisbane to Sydney to check the home had been left in an appropriate condition for sale, said he and Mr Kennedy had bought the Equititrust Income Fund loan book and were “looking to wring as much from it as we can”."

“It was galling for me that he would come down and act like a smart arse when he was taking my house from me,” he said.

http://www.theaustralian.com.au/bus...m/news-story/b1a0d0d03d1c14d5ab15bd624016713d
 
Me thinks Messer's Tucker and Kennedy are in sh#t up to their eyeballs...

No Trust said:
WELL WELL WELL ...
http://www.equititrust.com.au/Pdfs/Liquidator/Liquidators Reports - 20170201 - Report to the Creditors.pdf

• The subject matter of the claims under investigation is highly sensitive. There are also issues of confidentiality and legal professional privilege. The claims are the subject of written opinions from two separate Senior Counsel. Those opinions, and substantial other evidence, were tendered to the Supreme Court of Queensland on the application for approval of the litigation funding agreement and the retainer of Russells. The proceedings in the Supreme Court of Queensland have, for those reasons, been sealed, by order of Justice Burns made on 1 December 2016.
Click to expand...
 
These two miscreants thought they could get away with this ???

Not going to be a good year for Tucker and Kennedy...

The Liquidator will reverse these transactions and has the power to do so... As for the dynamic duo this is career ending stuff... ASIC and the QLD Legal Services Commission needs to get involved and take appropriate action...

No Trust said:
Equititrust: pair bought finance group’s loan book for $2m ‘to make $26m’

"The former chief executive and the company lawyer of the Gold Coast’s failed $250 million Equititrust finance group bought key fund assets for $2m when they were worth 10 times that amount, a public examination in Sydney has heard."

"Former Equititrust CEO David Kennedy and Brisbane lawyer David Tucker of Tucker & Cowen Solicitors allegedly bought the outstanding “loan book” of Equititrust for $2m, later allegedly claiming they expected to make a “$26m return” on the deal."

"Mr Hayes said he had been contacted by Mr Kennedy and Mr Tucker, who were enforcing outstanding debts, and made to leave his $2m home on Sydney’s northern beaches. He said Mr Tucker, who had flown from Brisbane to Sydney to check the home had been left in an appropriate condition for sale, said he and Mr Kennedy had bought the Equititrust Income Fund loan book and were “looking to wring as much from it as we can”."

“It was galling for me that he would come down and act like a smart arse when he was taking my house from me,” he said.

http://www.theaustralian.com.au/bus...m/news-story/b1a0d0d03d1c14d5ab15bd624016713d
Click to expand...
 
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