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Equititrust?

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05-Jul-2017 10:15 Interlocutory Hearing Justice Reeves Court No. 5, Level 7
 
Public Examination needs to proceed on the 11th of July... its essential...
 
Interlocutory Application tomorrow, should be interesting times at the Federal Court...
 
No one is above the law and those summoned by the court should be put in the hot seat and examined thoroughly...
 
Being in a position of Trust and or Fiduciary is something "all" officers of the court should not take lightly... There are no excuses if lines are crossed which should not be crossed.
 
"Dag"
Originally a word meaning the dried faeces left dangling from the wool on a sheep's rear end.

Some may say that there were a few "Dag's" left hanging on to the rear end of Equititrust...

Some "Dags" just never let go...
 
Note to the Liquidator's, there is an inextricable web that has yet to be untangled.

(ee) All and any documents recording the source of the payment of the sum of $2,000,000 credited to such loan account on or about 15 August, 2012, including, without limiting the generality of the foregoing:- (i) Any agreement by the Company, MS Asia, Mr Tucker and/or Tucker & Cowen with the person who paid such sum; (ii) Correspondence passing between any of the Company, MS Asia, Mr Tucker and/or Tucker & Cowen and the person who paid such sum, in the period from 1 July 2011 and 15 August 2012;

https://www.comcourts.gov.au/file/Federal/P/QUD944/2016/3777218/event/28977661/document/979446
 
Birds of a feather fail together... Citizen Tucker has a date with destiny on the 11th of July 2017.

Citizen McIvor
The career of former Gold Coast high flyer, Mark McIvor, is not yet officially over despite bankruptcy and a lifetime ban from the financial services industry over the collapse of Equititrust.

This week, ASIC said the Administrative Appeals Tribunal has rejected McIvor's application for a "stay" on the life ban while he appeals against the decision.

It seems his application to the AAT had a few deficiencies – which is not a surprise for the man who ran Equititrust into the ground leaving a $200 million hole, and many retirees without a nest egg.

The AAT said McIvor had not made an affidavit "as to the matters in controversy".

The AAT also found that McIvor had evaded the serving of ASIC's banning order despite his legal team being informed that he was required to do so.

Announcing his original ban last year, ASIC said he "is banned from providing any financial services on the basis that he had 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."

His transgressions include signing 28 board meeting minutes, from meetings that never were.

CBD can also report he was not nice to his mother.

She was forced to sell her home by receivers despite a Brisbane Supreme Court finding that her son had coerced her into signing massive mortgages over the home to benefit his business.

She might be a little alarmed to discover her son is now a "citizens advocate", according to a Linkedin profile in his name. The profile also referred to his current vocation as "Entrepreneur @ The Mutual Australian".

CBD found a reference to The Mutual Australian (TMA) at the web site for Mi Citizens Union which describes TMA thus: "Deep consideration of a strategy to respond to the emergence of the major bank cartel post GFC has resulted in the company believing that there is a need for community investment banking capacity co-owned by the regional communities they serve.

"Foundational to this concept is the establishment of a not for profit trust called The Mutual Australian. The trust's purpose will be to draw attention to the problem, and strategically guide implementation of a solution and manage the share of profit to the community."

CBD is sure ASIC is giving the enterprise an appropriate amount of attention.


http://www.smh.com.au/business/cbd/...ens-enjoy-birthday-gongs-20160609-gpfia5.html
 
So these genius's didn't see this right under their very noses... Come on the CEO and long time lawyer "all of a sudden" saw the proverbial light...

Their subsequent actions all go to show they graduated from the school of McIvor...

His conduct involved breaches of the financial services legislation, which were considered to be very serious, repetitive, prolonged and dishonest."

http://www.smh.com.au/business/cbd/...ens-enjoy-birthday-gongs-20160609-gpfia5.html
 
I can guarantee, all will be coming out into the open one way or the other... Too many have lost too much to let this one go...
 
The manner in which some "so called" professionals have acted in recent times, in terms of their convenient interpretation and disdain of the law, is analogous to the manner in which ISIS used religion to justify their deeds. Financial terrorism of the elderly is an unforgivable sin and needs to be punished.
 
Self enrichment by nefarious means using opportunistic inside information is outlawed and ASIC needs to intervene. They can't sit on the fence like they did before with McIvor and Equititrust and then "finally" take action when it was about to collapse in 2011.

ASIC have been well and truly put on notice about the current unfolding scandal.

For those investor's / aggrieved individual's or just plainly disgusted observers wishing to express their views on the matter and bring this matter to the further attention of ASIC.

Contact Hugh Copley or Kaan Finney at ASIC

Hugh.Copley@asic.gov.au

kaan.finney@asic.gov.au

ASIC can't say that they were unaware of what's occurred, the public interest is at stake here. Can officers of the court and insolvency professionals do what they like ?

ASIC needs to commence a parallel investigation, otherwise the whole system is undermined.
 
Collusion
secret or illegal cooperation or conspiracy in order to deceive others
 
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