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Equititrust?

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Kennedy must have some really bad ju ju... Previously at MFS - that went ass up.
Then at Equititrust - that went ass up
Teamed up with Tucker - Currently going ass up
 
Didn't David Anderson surface at Equititrust?

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MFS directors hit with $615m compensation order, fines, bans

Michael King, former CEO of MFS Ltd, has been banned from running companies for 20 years and will have to pay hefty fines Photo: Wolter Peeters

It is believed to be one of the biggest compensation orders relating to a company collapse in Australian history with legal experts calling the size of the compensation "extraordinary".

The directors of the former MFS Investment Management business and the officers of its operating entity MFS Ltd have also been banned from being company directors for varying lengths of time, and received financial penalties.

The payments ordered by the courts will be directed to the thousands of retirees who put their life savings into MFS investment vehicle the Premium Income Fund.

The MFS Group collapsed in 2008 owing $2.5 billion. Ahead of its collapse it was an investment powerhouse that counted former Liberal Party leader Andrew Peacock, who was not a party to the court case.

The Premium Income Fund, or PIF as it was commonly known, was frozen to redemptions from investors in 2009. At the time, it held $770 million in people's life savings.

The bannings, fines and ordered payments came after a long-running court case brought by the Australian Securities and Investments Commission.

On Friday, the Supreme Court of Queensland ordered…Former MFS chief financial officer David Mark Anderson be disqualified from managing corporations for 25 years, pay a pecuniary penalty of $500,000, pay $205,755,601 compensation to PIF and 80 per cent of ASIC's costs;

http://www.smh.com.au/business/mfs-...nsation-order-fines-bans-20170526-gwds0f.html
 
He sure did along, with Kennedy.. McIvor's wise decision making in play... McIvor then went on to call him obese... Nice chap isn't he...

Nothingtoadd said:
Didn't David Anderson surface at Equititrust?

========================================
MFS directors hit with $615m compensation order, fines, bans

Michael King, former CEO of MFS Ltd, has been banned from running companies for 20 years and will have to pay hefty fines Photo: Wolter Peeters

It is believed to be one of the biggest compensation orders relating to a company collapse in Australian history with legal experts calling the size of the compensation "extraordinary".

The directors of the former MFS Investment Management business and the officers of its operating entity MFS Ltd have also been banned from being company directors for varying lengths of time, and received financial penalties.

The payments ordered by the courts will be directed to the thousands of retirees who put their life savings into MFS investment vehicle the Premium Income Fund.

The MFS Group collapsed in 2008 owing $2.5 billion. Ahead of its collapse it was an investment powerhouse that counted former Liberal Party leader Andrew Peacock, who was not a party to the court case.

The Premium Income Fund, or PIF as it was commonly known, was frozen to redemptions from investors in 2009. At the time, it held $770 million in people's life savings.

The bannings, fines and ordered payments came after a long-running court case brought by the Australian Securities and Investments Commission.

On Friday, the Supreme Court of Queensland ordered…Former MFS chief financial officer David Mark Anderson be disqualified from managing corporations for 25 years, pay a pecuniary penalty of $500,000, pay $205,755,601 compensation to PIF and 80 per cent of ASIC's costs;

http://www.smh.com.au/business/mfs-...nsation-order-fines-bans-20170526-gwds0f.html
Click to expand...
 
He sure did... Scumbags somehow find each other... McIvor hired him then called him obese...
Nice chap who also swears at his mother...

Nothingtoadd said:
Didn't David Anderson surface at Equititrust?

========================================
MFS directors hit with $615m compensation order, fines, bans

Michael King, former CEO of MFS Ltd, has been banned from running companies for 20 years and will have to pay hefty fines Photo: Wolter Peeters

It is believed to be one of the biggest compensation orders relating to a company collapse in Australian history with legal experts calling the size of the compensation "extraordinary".

The directors of the former MFS Investment Management business and the officers of its operating entity MFS Ltd have also been banned from being company directors for varying lengths of time, and received financial penalties.

The payments ordered by the courts will be directed to the thousands of retirees who put their life savings into MFS investment vehicle the Premium Income Fund.

The MFS Group collapsed in 2008 owing $2.5 billion. Ahead of its collapse it was an investment powerhouse that counted former Liberal Party leader Andrew Peacock, who was not a party to the court case.

The Premium Income Fund, or PIF as it was commonly known, was frozen to redemptions from investors in 2009. At the time, it held $770 million in people's life savings.

The bannings, fines and ordered payments came after a long-running court case brought by the Australian Securities and Investments Commission.

On Friday, the Supreme Court of Queensland ordered…Former MFS chief financial officer David Mark Anderson be disqualified from managing corporations for 25 years, pay a pecuniary penalty of $500,000, pay $205,755,601 compensation to PIF and 80 per cent of ASIC's costs;

http://www.smh.com.au/business/mfs-...nsation-order-fines-bans-20170526-gwds0f.html
Click to expand...
 
Word has it, that ASIC are having a close look at the current proceedings as well as the miscreants involved... The liquidator has a duty to report...
 
The MFS judgement handed down recently and accompanying orders to pay back the MFS Premium Income Fund sets an appropriate precedent. Kennedy just slipped out of the MFS mess into a self induced nightmare with Tucker when they dabbled in the Equititrust Income Fund. The MFS decision could not have come at a worse time... It seems the courts are done with miscreants playing with investors lives as is ASIC... Let the "further" investigations begin...
 
A thorough dose of the salts by way of audit by the ATO may also be in order...
 
Tucker knew McIvor was screwing both investors and borrowers but continued to act. His epithany in 2011 was a load of bullsh#t.. There are files in the Supreme Court to prove that. Taking innocent people's homes and assets was a common practice that McIvor and Tucker relished in... Look how the tables have turned. Given Tucker's actions he deserves to lose everything he has... Even when this happens, WHICH IT WILL, that will never repay the pain and heartache he caused to many... May you live in interesting times David Tucker...
 
Some explosive revelations to be revealed soon...
 
Wow, now I know why the affidavits of the liquidator and Counsel's opinions were sealed by the Federal Court...
 
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