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Equititrust?

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Public Examination / Humiliation Dress Code - NOT BLACK TIE

Change of underwear - Advisable


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Word on the street is that there are many CV's hitting other Brisbane Law Firms and Recruiters from current Tucker and Cowan Employee's. What's going on in the bunker ??? Do employee's want to get out before litigation commences and things get worse ???
Interesting times...
 
I don't think the comments from the firm's namesake below are endearing to current staff as to their future prospects.

David Tucker threatening bankruptcy in his affidavit in open court cannot be motivating to current employees, nor the prospect that the firms insurance may not cover the claim against him...




No Trust said:
So Tucker protects his own Superannuation Fund as set out in his affidavit excerpt below 44. and would instead, rather declare bankruptcy. But couldn't give a damn about the "many private superannuation funds" who were investors in the EPF...

Tucker's affidavit is an insight into his warped thinking and sense of entitlement... This is an utter disgrace...


"In his reasons for judgment, Greenwood J briefly described the circumstances in which that debt was incurred, as follows ([2017] FCA 16 at [19]):

[Equititrust] was a money lender operating on the Gold Coast. It was founded by Mr Mark McIvor. It raised funds for that purpose by means of registered managed investment schemes and, relevantly for present purposes, an unregistered trading trust known as the Equititrust Premium Fund (the “EPF”). It has about 50 members including many private superannuation funds. [Equititrust] was indebted to [BOSI] in a certain significant amount. The indebtedness was secured by a number of security interests over the assets of the EPF."

David Tucker's affidavit in support of application to set aside orders for examination under s 596A and production of documents under s 597(9) of the Corporations Act 2001 (Cth) –

44. If the liquidators sue me, and I suffer a judgment against me in the sums alleged by the liquidators’ solicitors, or indeed a fraction of those amounts, and it is not covered by insurance, I would not seek to have recourse to the assets of the trusts or superannuation fund described above, but rather I would file for bankruptcy.



http://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2017/2017fca0758
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I can't see how this sends a positive message to existing and prospective clients...

No Trust said:
I don't think the comments from the firm's namesake below are endearing to current staff as to their future prospects.

David Tucker threatening bankruptcy in his affidavit in open court cannot be motivating to current employees, nor the prospect that the firms insurance may not cover the claim against him...
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It's been a long time "Davey Boy"...


"The arc of the moral universe is long, but it bends towards justice"--Rev. Dr. Martin Luther King.
 
I'm sure the liquidator and Russells are looking into the issue of dissipation of assets. Kennedy already in Hong Kong and Tucker already signaling bankruptcy here in the event of a judgement against him...
 
There are three fiduciary rules that apply:

  • Company directors must not have a personal interest or engagement with a third party except with the full consent of the company (conflict rule)



  • Company directors must not abuse their position for their own or a third party's advantage unless the company gives its full consent. Thus they must account to the company for any gain they so happen to make in connection with their fiduciary office (profit rule)



  • Company directors must not mistake company property as their own or appropriate that property to a third party's benefit (misappropriation rule).



http://www.mondaq.com/australia/x/54462/Directors+Officers/The+Corporate+Opportunity+Principle
 
That's amazing. I'd imagine the news media, the bar association and the Crime & Misconduct Commisssion would be all over this.

I find myself wondering what McIvor got out of all this. As I've said, I personally don't like the man and it was his choice to bring the vultures in. But he walked away with nothing. Lost millions and was bankrupted. Was he the villain that Tucker et al told us he was or was he just too arrogant to see them coming?

Creepy mongrels the lot of them. In the end bankruptcy, shame and loss of face for all players in a nasty game that ripped off hundreds of retirees.

No Trust said:
There are three fiduciary rules that apply:
  • Company directors must not have a personal interest or engagement with a third party except with the full consent of the company (conflict rule)
  • Company directors must not abuse their position for their own or a third party's advantage unless the company gives its full consent. Thus they must account to the company for any gain they so happen to make in connection with their fiduciary office (profit rule)
  • Company directors must not mistake company property as their own or appropriate that property to a third party's benefit (misappropriation rule).
http://www.mondaq.com/australia/x/54462/Directors+Officers/The+Corporate+Opportunity+Principle
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No Trust said:
Notice, how Whyte and BDO are as quiet as a mouse when it concerns their knowledge of Tucker and Kennedy's beneficial interest in MS Asia. Whyte and BDO need to be joined to any future proceedings concerning the EPF. Any further fees he or BDO claims should be denied... This is a disgrace...
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I think you need to remember that David Whyte was receiver of the Income fund only, and there was a separate receiver appointed by BOSI over the Premium fund only. Hall Chadwick are the only ones appointed over "everything" ie Equititrust Ltd. Whyte may have known that Tucker & Kennedy were involved in the entity that bought the debts but he would not have been involved in negotiating the sale, and would not have known the price.

I think you are unfair to him if you place him in the same bucket as Pleash, Tucker, Kennedy or McIvor
 
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