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Equititrust?

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When David Tucker and David Kennedy embarked on this little entrepreneurial endeavor, did they once think about the people that would be deprived of this money ?? The elderly retirees that invested in Equititrust ???
The same goes for Worrells, they knew what was going on having acted for Tucker in bankrupting McIvor... Yet they played an interesting, yet to be "fully revealed" role in this disgusting example of greed and lack of morals... Bow your heads in shame all of you...
 
Refer to 2.2 Equititrust Premium Fund in the report below and you start to see the set up...

Of course Worrell's wouldn't comment on the realisations as they were protecting Tucker and Kennedy... Worrell's weren't independent, Tucker and Kennedy were pulling the their puppet's strings...

How could Worrell's be allowed to get away with this when they knew their appointors were Tucker and Kennedy...

Of interest will be whether Tucker was doing any work for David Whyte the receiver of Equititrust Income Fund at the time... if so this need investigation and reconpense from Tucker and Cowan as this was a clear conflict of interest...

http://www.hallchadwick.com.au/Equititrust Ltd - Circular to Creditors - 22.08.2013.pdf
 
Tucker and Kennedy's little back door deal has opened Pandora's box it seems...

A lot of "new" questions are about to asked of the dynamic duo...

Worrell's the "firm with no morals" is set to go on the chopping block later this month... I've been informed that the Public Examination is not going to be a pleasant affair, given what they now have to surrender to the court...
 
The Tucker Kennedy examination should be blistering...
 
Tucker and Worrells - Delving into the murky mire of lawyers and friendly receivers

What this whole sorry saga brings to the fore is the relationship between Tucker and Worrells and in this particular instance their dealings surrounding the BOSI debt..

What the liquidator has rightly asked of Peldan and Cook from Worrells is their fee arrangements and dealings with Tucker...

This area of insolvency needs reform, the use of friendly insolvency practitioners to do another's bidding is ethically abhorrent.

Worrells need to be grilled to the enth degree at the Public examination on the 26th of May

Why would Worrells require "security" for receivers remuneration ??? What's the deal between Tucker and Worrells and the BOSI debt ???

THE COURT ORDERS THAT:
1. Pursuant to subsection 597(9) of the Corporations Act 2001 (Cth) (“the Act”), Michael Richard Peldan and Christopher Richard Cook are directed to produce at the examination of Michael Richard Peldan on 26 May 2017, the following books in their possession relating to Equititrust Limited ACN 061 383 944 (In Liquidation) (Receivers and Managers Appointed) (“the Company”) or its examinable affairs: (a) The office manual, operations manual or other document setting out the policy of the firm Worrells, as at August 2012, in respect of the following matters:-

(i) credit control or financial management for new receivership appointments;

(ii) financial terms on which the firm would accept appointments to act as receivers either generally or from appointors other than banks;

(iii) when or under what conditions the firm would require security for receivers’ remuneration or expenses or liabilities;

(iv) credit control or financial management of appointments which were referred by Tucker & Cowen;


https://www.comcourts.gov.au/file/Federal/P/QUD944/2016/3777218/event/28909691/document/948861
 
Sucking off the Teat

When Tucker was sucking off the teat of Equititrust and pocketing legal fees aplenty, his ability to put the blinkers on when it came to McIvor's malfeasance with the regulator ASIC, investors and borrowers was of epic sycophantic proportions...

Yet, when he saw that the fee's were going to dry up due to his conflict of interest as director all of a sudden Tucker's blinkers came off and McIvor was the devil incarnate... McIvor is a scumbag of epic proportions for what he has done to countless innocent victims but Tucker's oh so malleable stance on ethical issues knows no bounds.

Take for example his proclaimed welfare for investors of Equititrust back in 2011 filing affidavits against McIvor for going against the interests of investors, then lo and behold his about face on his dirty little deal with Kennedy on the BOSI Debt. Not so much concern about investors in hiding his and Kennedy's identity in a little Money Spinner called MS Asia... Worrells saw all of this and went along with Tucker and Kennedy and acted as receivers WTF...

Tucker instead of acting "only" as a lawyer became entrepreneurial with the lives of innocent elderly Australians who actually worked honestly and ethically to earn that money...

So when you read back and see Tucker pointing at McIvor and his ill deeds one has to question his actions in the deal subject to public examination by the Liquidator at the moment.

Further given where this investigation is heading, there needs to be an investigation by the regulator of the role Tucker had with Worrells on other appointments... I'm Sure Messer's McCart, Barrett and Roberts as well as many others subject to the Tucker Worrells team up on insolvency matters would agree...

An example of the manner in which Tucker conducted himself was reported in the Australian by Anthony Klan on 15 March 2017

"Fronting examinations in the Federal Court in Sydney yesterday, retired property developer William Hayes said he had borrowed “about $30m” from Equititrust but his businesses soured and he was unable to repay the debt.

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

So here we have Tucker and Kennedy directly contacting the borrower and Tucker flying to Sydney to harass an old man ??? WTF

Why wasn't Worrells doing this work as the receiver ??? Were they a puppet and not independent. They let Tucker and Kennedy interfere and do what they want, wearing whichever hat they wanted...

The extent of the greed is palpable, wanting to ensure his golden goose was intact Tucker personally flew to Sydney...

In what capacity was he acting, a shareholder of MS Asia ? , A lawyer acting for the receiver Worrells ? A concerned advocate of Equititrust investors ? Tucker was wearing many hats with a no f#cks given attitude to conflict of interest and Worrells were his accomplice...

If this is an example of how insolvency works then there needs to be another Senate Inquiry as the public will lose all faith in the system...
 
What kind of human gains pleasure and more so tries to profit from taking another person's home ?
 
What will unfold in the coming weeks and months as the investigations are expedited is secrets long thought dead and buried will rear their ugly head...
 
Certain Skeletons that many thought would never leave the closet will be paraded in a public forum...
 
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Besides Tucker and Kennedy, was there anyone else of note involved ???
 
No Trust, thank you for your informative and continual updates. I've followed this forum for some years, but still surprised and saddened with the level of deceptions the retirees have to endure. It certainly beats the story of Derek Turner the Aussie conman. It should be made into a movie.
 
Just Observer, its a pleasure providing these updates and exposing these miscreants...

The level of greed and dishonesty inflicted upon innocent elderly retirees is beyond comprehension...

The latest revelations are absolutely disgusting given the fact that we now have Tucker, Kennedy and Worrells mired in this scandal...

The liquidator who I have been critical of in the past has "finally" taken the bull by the horns and aggressively pursued Tucker, Kennedy and Worrells... Enough is enough FFS.

Just Observer said:
No Trust, thank you for your informative and continual updates. I've followed this forum for some years, but still surprised and saddened with the level of deceptions the retirees have to endure. It certainly beats the story of Derek Turner the Aussie conman. It should be made into a movie.
Click to expand...
 
In terms of a movie, I think that's a great idea... maybe there's a script in the offing.

One problem however is finding actors ugly enough and able to depict complete and utter b#stards.
upload_2017-5-9_13-3-26.png upload_2017-5-9_13-3-35.png upload_2017-5-9_13-4-32.png


Just Observer said:
No Trust, thank you for your informative and continual updates. I've followed this forum for some years, but still surprised and saddened with the level of deceptions the retirees have to endure. It certainly beats the story of Derek Turner the Aussie conman. It should be made into a movie.
Click to expand...
 
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Some time back when "Marky Boy" was on the road to redemption and was trying to cleanse his past sins he was under the guidance of a spiritual advisor named David Dornan or as McIvor called him the old man on the hill... During this time McIvor seemed to try his best to mediitate and resolve many issues. This included meditation on trips to Bali and early morning meditation that at times "was interrupted by barking dogs"... Even though ex wife Racy Stacey disapproved of The Old Man on the Hill and ultimately put a stop to Marky Boy seeing him, the issues and lessons that David Dornan would counsel him on never went away...

The miscreant's collectively pictured below do not however know what's around the corner, there's a collective lesson in destruction that neither one of this trio of pain and misery will ever expect...

IMG_9650.PNG IMG_9651.PNG IMG_9652.PNG
 
Who would have thought that the offices of Tucker and Cowan and Worrell's have sprung leaks... Looks like some people have morals... Dirty water finds its own level...
 
Let me get this right... Its perjury to give false testimony under oath ???
 
There's going to be some sweaty palms and sweaty necks as the noose gets tightened... The upcoming public examinations are going to be sensational especially if the information asked to be produced "omits"communications and emails between Tucker Kennedy and Worrell's. You'd be amazed where this may later appear...
 
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