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Equititrust?

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Karma had a sneaky way of biting McIvor on the ass and stripping him of everything he took unjustly from others over the years.

It seems karma's work is far from done...
 
Federal Court today. Some may have sweaty palms, pits and never regions prior to today's judgement.
 
It's clear that matters relating to the EPF were kept in the dark dark shadows. The Federal Court needs to allow the Liquidator to do its job and publicly examine Tucker, Kennedy and Worrells.

Officers of the court and insolvency practitioners need to be held to a higher standard. They ought to know better...
 
If any investors were disadvantaged, hurt or if any laws were purposefully broken, then the public needs to know...

This is a matter of public interest...
 
The word "testify" is based on the Ancient Roman practice of making men swear on their testicles when making a statement in court.
 
22 September 2011

Resignation of CEO
We announce that Mr David Kennedy has resigned as Chief Executive Officer of Equititrust, to be effective in December 2011.
Mr Kennedy originally joined Equititrust as Chief Operating Officer in late 2009 at the request of Equititrust founder, Mr Mark McIvor, to principally assist with the resolution of various banking issues facing Equititrust, EPF and EIF as a result of the global financial crisis.

Whilst his tenure resulted in him performing a range of other tasks (and in the process assuming the role of CEO) it was resolution of the bank position that was the original purpose of his engagement.

It is anticipated that full repayment of the EIF debt to the National Australia Bank will occur in October 2011. This repayment will eliminate all EIF bank debt (from a peak of $125m in 2008).

As a result of this, coupled with the substantial reduction in the EPF debt to BOSI (from a peak of $30m in 2010) to an anticipated balance at the end of October 2011 of less than $6m, Mr Kennedy has expressed his desire to resign and pursue other business interests.

Mr Kennedy has confirmed that he will do whatever he can to provide as smooth a transition as possible for any incoming CEO who may replace him, and will continue to make himself available to attend to any other matters as reasonably needed in the future including assisting where necessary in any ongoing litigation matters.

The Board wishes to express its gratitude to Mr Kennedy for the role he has performed, and will now seek to find a suitable replacement for Mr Kennedy whose skills will be commensurate with the role now required as a result of the restructured banking position.

John Goddard Chairman



http://www.equititrust.com.au/Pdfs/Disclosures/Disclosure_Statement_22_09_2011.pdf
 
What is so privleged Davo ??? :)

Good luck with that, it's all gonna come out eventually... :)
 
Such a predictable move to delay :) it's a waste of time and money.
 
Mozzi, its a waste of money spent on legal fees by the liquidator. The Liquidator has entered into a funding agreement with a litigation funder. Tucker on the other hand is doing everything within his means to avoid handing over personal documents and those of the companies mentioned in the list. Only his firms resources are being used.

Each time there is an interlocutory application, the liquidator's lawyers need to appear and in most instances counsel has to be briefed.
 
The liquidator will challenge any documents Tucker claims to be privileged.

1. In the event that the examinee David Robert Walter Tucker and the companies listed in Schedule A wish to make a claim of privilege (or object to the production of documents on the ground of a claim of privilege by another person) then they shall, by 4.30pm on 4 August 2017, serve on the liquidators:
a. an objection schedule in accordance with General Practice Note, Subpoenas and Notices to Produce, dated 25 October 2016;

b. any affidavits in support of such a claim.

2. The liquidators’ application for production of any such documents is set down for hearing by a Registrar on 8 August 2017.


https://www.comcourts.gov.au/file/Federal/P/QUD944/2016/3777218/event/29012483/document/995846
 
What's inevitable, is the fact that there will be a civil trial... Those that need to be brought to account, will !!!
 
Given the Public Interest and Public Money involved this trial will be run in the spotlight of the media...
 
If there was any wrongdoing as regards the EPF, it will come out.
 
The Liquidator's resolve is exemplified by their actions to date. The litigation has been aggressive and thorough... Russell's and their counsel seem to be on the ball... Tucker on the other hand seems to have been hit by shock and awe on being on the other side of aggressive litigation which is nigh impossible to defend...
 
In the middle of this is the complicit insolvency practitioner Worrells... How can a so called firm of professionals get themselves into such a mess... SAD
 
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