Equititrust?

[No Trust]

Hi Mozzi, the liquidators are seeking the approval of the Court for entering into the settlement deed and apportionment of funds subject to litigation funding that was won in suing KPMG.

Long and the short of it, the Liquidators are following due process and getting the approval of the court to ensure their actions are transparent and in the best interests of investors.

Mozzi has a confession to make - no idea what on earth that all means!

 

[No Trust]

This is not a good result for investors...

 

[No Trust]

http://www.equititrust.com.au/Pdfs/...e to Creditors and Unitholders 21.06.2019.pdf

 

[No Trust]

Investors and creditors get ZERO, Litigation Funder and Liquidator get the lot...

I predict there will be many questions and objections as to why this litigation was commenced in the first place if there is no benefit to the investors and only the lawyers and liquidator profit from it.

 

[No Trust]

This appears to be a bum deal for the investors, why not proceed to full trial if the other side are willing to settle after 6 years of litigation ?

 

[No Trust]

Prior to spending any more time and money on any other litigation, I think the liquidators need to think long and hard before wasting any more of the investors money on legal forays if the end game is zero net gain for the investors.

The Liquidators should avoid the courts like the plague after this dismal result. 6 years p#ssed down the drain for NOTHING.

 

[Mozzi]

Prior to spending any more time and money on any other litigation, I think the liquidators need to think long and hard before wasting any more of the investors money on legal forays if the end game is zero net gain for the investors.

The Liquidators should avoid the courts like the plague after this dismal result. 6 years p#ssed down the drain for NOTHING.

Why? Why? Why? Why were all these people let off the hook - from McIver to the people involved in the latest case, right through this whole debacle? Incompetence, secrecy re settlement and like always nothing in the end, zilch for the investors. We always knew the lawyers would get their cut - they always do, but this latest is too ridiculous for words.

and they all laughed all the way to the Bank................

 

[No Trust]

The fact that the litigation funders were paying the liquidators for 6 years and then they both take all the spoils in the end and the investors get nothing is beyond words...

 

[strongman]

Hi No Trust, How are you? Strongman is delighted your taking an interest in restorative justice for 1620 Equititrust investors. Our focus is the same. We have not been idle. We've been collecting forensic information that will unequivocally prove that;

i. Messrs Tucker and Kennedy engaged in a securities fraud, unparalleled in Queensland legal history.
ii. Each of the insolvency practitioners i.e. Albarran and Whyte, have been knowingly, or unwittingly, complicit with the Tucker/Kennedy fraud.
iii. ASIC has engaged in misfeasance, and perversion of the course of justice, in respect to two whistleblowers, seeking to bring to light the criminal conduct of Westpac, in particular the activities of David St Pierre, a Pacific Fair bank manager, jailed in 2017 for offences related to systemic predatory lending.
iv. This ASIC misconduct impacted Equititrust as David Hickie, a 'white knight' appointed to the Equititrust board in 2012, was one of the whistleblowers, seeking to restore justice, regarding Westpac criminality. Hickie was well known to Greg Medcraft, having worked with him for ten years, during the ASIC Chairman's prior 27 year sojourn at Societie Generale. Medcraft was an unusual choice as ASIC Chairman, given his prior role at Soc Gen was to push billions of dollars of capital to Westpac. Post the GFC, Medcraft facilitated $5billion of capital to Westpac, purportedly to stimulate the economy. This capital fostered the predatory lending that has been callously covered up by the Federal Govt. Hickie was brutally attacked by ASIC, at the same time, ASIC relentlessly pushed the Equititrust assets into the hands of the insolvency industry, directed by Tucker. ASIC have consistently refused a FOI that will confirm that Tucker contacted ASIC, post his dismissal, and facilitated the highly illegal, and fateful raid, that subsequently decimated $400 million of asset and business value.

On closer examination of forensic evidence, the following will emerge;

1. David Tucker facilitated the illegal raid of 28 officers, including armed Federal Police on the home and and office, of Equititrust's founder, Mark McIvor within eight days of his dismissal for misconduct. (Tucker's dismissal was an essential step, post advice from Brett Walker SC, to endeavour to protect investors from his planned securities fraud, in which he was aided and abetted by David Kennedy.)
2. The 'elephant in the room' of course is why would ASIC illegally raid a federally constituted trustee, which, as at the commencement of 2011, had $76million in retained earnings, and $17m loaned to it by third party creditors. The assets were sound, and the board had purposed to transition to the stock exchange, to protect the assets, and re-position them for comprehensive development.
3. The winding up of the Equititrust Income and Premium Fund did not oblige a garage sale of assets. The company had navigated three years of GFC, with zero interest and principle loss. In fact, $30 m had been written off the income, to ensure the assets were pristine.
4. Misfeasance is when the Government is liable to citizens for its wrongdoing. Misfeasance is constituted by two heads, being i. Reckless Indifference or ii. Targeted Malice. ASIC engaged in reckless indifference at the start of 2011, when the Qld head of ASIC, Jenny Gentles, compelled Equititrust Ltd to withdraw a valid PDS for the purpose of raising capital, to repay NAB the remaining $25m. NAB had compelled Equititrust to subordinate $40m to a first loss position, then purposefully oppressed the business model, by relegating Equititrust to 'bad bank' in March 2010. In August 2010, NAB obliged a 217 page valuation report which confirmed the asset valuation at $280,000,000. Given the assets comprise 2,000 residential allotments and relatively simple developable assets, the crimes committed by the various insolvency participants likely set a record, within legal circles. All insolvency practitioners, including Tucker and Kennedy, are 'Officers of the Court'. As such, they have a very high duty of care to investors, shareholders, and third party creditors.

You obviously have a noble intention, given the extent of your input in this matter. Private criminal prosecutions of Tucker and Kennedy are the shortest route to penetrating to the truth of this matter. If you have contact details of investors, and wish to assist in the formation of a lobby group, on their behalf, we would be pleased to discuss these matters with you. Await hearing.
Strongman

 

[No Trust]

Thanks but no thanks McIvor....

Your rant about ASIC raids etc have all been regurgitated by you on your defunct AMPITUP website before. Why don’t you just be upfront and tell the thread it’s you ? Are you afraid of what the investors will tell you ?

https://strongmanfinancier.co/team.php

As the Chief Evangelical Officer of god knows what now, shouldn’t you be more concerned about paying your rent and not getting evicted by the police.

How can you help investors ???

You’re banned for life from the financial services industry and deservedly so.

You thought the sun shone out of Tucker and Kennedy’s asses and yet Tucker bankrupted you... SMFH...
Don’t say you weren’t warned what would happen to you.

How can such an abject failure in business with such impossibly bad judgement be of any help to any investor ? It’s all hot air - would’ve -could’ve - should’ve...

You and you alone are responsible for the loss of innocent elderly retiree investors life savings on idiotic lending to the likes of Dudley Quinlivan aka “King Con”...

If your own mother won’t have anything to do with you, why would any investor want to go near you after you destroyed their lives ?

Face reality Marky Boy, the glory days are over, you have been financially neutered, have zero power and negative credibility...

View attachment 89260 View attachment 89261 View attachment 89262 View attachment 89263 View attachment 89264

Hi No Trust, How are you? Strongman is delighted your taking an interest in restorative justice for 1620 Equititrust investors. Our focus is the same. We have not been idle. We've been collecting forensic information that will unequivocally prove that;

i. Messrs Tucker and Kennedy engaged in a securities fraud, unparalleled in Queensland legal history.
ii. Each of the insolvency practitioners i.e. Albarran and Whyte, have been knowingly, or unwittingly, complicit with the Tucker/Kennedy fraud.
iii. ASIC has engaged in misfeasance, and perversion of the course of justice, in respect to two whistleblowers, seeking to bring to light the criminal conduct of Westpac, in particular the activities of David St Pierre, a Pacific Fair bank manager, jailed in 2017 for offences related to systemic predatory lending.
iv. This ASIC misconduct impacted Equititrust as David Hickie, a 'white knight' appointed to the Equititrust board in 2012, was one of the whistleblowers, seeking to restore justice, regarding Westpac criminality. Hickie was well known to Greg Medcraft, having worked with him for ten years, during the ASIC Chairman's prior 27 year sojourn at Societie Generale. Medcraft was an unusual choice as ASIC Chairman, given his prior role at Soc Gen was to push billions of dollars of capital to Westpac. Post the GFC, Medcraft facilitated $5billion of capital to Westpac, purportedly to stimulate the economy. This capital fostered the predatory lending that has been callously covered up by the Federal Govt. Hickie was brutally attacked by ASIC, at the same time, ASIC relentlessly pushed the Equititrust assets into the hands of the insolvency industry, directed by Tucker. ASIC have consistently refused a FOI that will confirm that Tucker contacted ASIC, post his dismissal, and facilitated the highly illegal, and fateful raid, that subsequently decimated $400 million of asset and business value.

On closer examination of forensic evidence, the following will emerge;

1. David Tucker facilitated the illegal raid of 28 officers, including armed Federal Police on the home and and office, of Equititrust's founder, Mark McIvor within eight days of his dismissal for misconduct. (Tucker's dismissal was an essential step, post advice from Brett Walker SC, to endeavour to protect investors from his planned securities fraud, in which he was aided and abetted by David Kennedy.)
2. The 'elephant in the room' of course is why would ASIC illegally raid a federally constituted trustee, which, as at the commencement of 2011, had $76million in retained earnings, and $17m loaned to it by third party creditors. The assets were sound, and the board had purposed to transition to the stock exchange, to protect the assets, and re-position them for comprehensive development.
3. The winding up of the Equititrust Income and Premium Fund did not oblige a garage sale of assets. The company had navigated three years of GFC, with zero interest and principle loss. In fact, $30 m had been written off the income, to ensure the assets were pristine.
4. Misfeasance is when the Government is liable to citizens for its wrongdoing. Misfeasance is constituted by two heads, being i. Reckless Indifference or ii. Targeted Malice. ASIC engaged in reckless indifference at the start of 2011, when the Qld head of ASIC, Jenny Gentles, compelled Equititrust Ltd to withdraw a valid PDS for the purpose of raising capital, to repay NAB the remaining $25m. NAB had compelled Equititrust to subordinate $40m to a first loss position, then purposefully oppressed the business model, by relegating Equititrust to 'bad bank' in March 2010. In August 2010, NAB obliged a 217 page valuation report which confirmed the asset valuation at $280,000,000. Given the assets comprise 2,000 residential allotments and relatively simple developable assets, the crimes committed by the various insolvency participants likely set a record, within legal circles. All insolvency practitioners, including Tucker and Kennedy, are 'Officers of the Court'. As such, they have a very high duty of care to investors, shareholders, and third party creditors.

You obviously have a noble intention, given the extent of your input in this matter. Private criminal prosecutions of Tucker and Kennedy are the shortest route to penetrating to the truth of this matter. If you have contact details of investors, and wish to assist in the formation of a lobby group, on their behalf, we would be pleased to discuss these matters with you. Await hearing.
Strongman

 

[strongman]

Thanks but no thanks McIvor....

Your rant about ASIC raids etc have all been regurgitated by you on your defunct AMPITUP website before. Why don’t you just be upfront and tell the thread it’s you ? Are you afraid of what the investors will tell you ?

https://strongmanfinancier.co/team.php

As the Chief Evangelical Officer of god knows what now, shouldn’t you be more concerned about paying your rent and not getting evicted by the police.

How can you help investors ???

You’re banned for life from the financial services industry and deservedly so.

You thought the sun shone out of Tucker and Kennedy’s asses and yet Tucker bankrupted you... SMFH...
Don’t say you weren’t warned what would happen to you.

How can such an abject failure in business with such impossibly bad judgement be of any help to any investor ? It’s all hot air - would’ve -could’ve - should’ve...

You and you alone are responsible for the loss of innocent elderly retiree investors life savings on idiotic lending to the likes of Dudley Quinlivan aka “King Con”...

If your own mother won’t have anything to do with you, why would any investor want to go near you after you destroyed their lives ?

Face reality Marky Boy, the glory days are over, you have been financially neutered, have zero power and negative credibility...



View attachment 95694 View attachment 95695 View attachment 95696 View attachment 95697 View attachment 95698 View attachment 95699 View attachment 95700 View attachment 95701

Your diatribe over the last decade demonstrates you have an axe to grind. We know who you are. You need to move on from the fact that you were a non performing borrower who Equititrust was obliged to deal with. You're better than that, given there is an equal and opposite positive in every negative. I counsel caution, given you've been engaging in criminal defamation for some years. If you were genuinely interested in 1620 aged investors relegated to penury you would demonstrate a willingness to more skilfully understand the facts. ASIC presides over a two trillion dollar funds management industry, based in Sydney and Melbourne. That centralised control of capital keeps a corrupt bipartisan power base, controlling regional Australia. David Tucker's father ran Qld politics for 13 years, as Chairman of the Liberal Party. Little wonder David has been a protected species for seven years, and now has an $80m net worth. His private prosecution will yield vastly more for investors than Hall Chadwick's six years of nonsensical action. The litigation funder that Albarran wasted $35m on was tied up in knots in a legal case that was fundamentally flawed. Paul Lindholm simply plays better poker than KPMG. The fact that $35 million was spent on lawyers, to recover zero for investors, demonstrates the farcical nature of centrally controlled and outmoded financial services system, that will be decimated by blockchain. The future is bright for those with agile minds, and an ability to adapt. If you will good, good will happen. The reverse is also the case. Strongman

 

[No Trust]

Marky Boy are you ok ?

More delusional rants and accusations... You’ve got it wrong each time... SMFH. The game is over mate, zero chance of ever coming back...

You have no idea or remorse for what you’ve done to investors... Just blame everyone else. Nothing’s changed except that you’ve been given a life sentence by ASIC which you can’t ever overturn...

As far as Equititrust investors are concerned, you can shove your delusional blockchain where the sun don’t shine because it’s not going to bring their money back.


Check out the directors of Strongman Financier as compared to the Article by Greg Stolz and Jeremy Pierce of the Courier Mail below, this sums up the state of affairs of Strongman.

https://strongmanfinancier.co/team.php


https://www.couriermail.com.au/news...t/news-story/3bcec420a9380d0bf9a6abf764148750

 

[Mozzi]

Hi Mozzi, the liquidators are seeking the approval of the Court for entering into the settlement deed and apportionment of funds subject to litigation funding that was won in suing KPMG.

Long and the short of it, the Liquidators are following due process and getting the approval of the court to ensure their actions are transparent and in the best interests of investors.

Thanks "No Trust" BUT - What is said and what actually happens are two different things, as we know! We love it that the courts "ensure that their actions are transparent and in the best interests of investors." What a load of bull****!!!

 

[No Trust]

This is true...

Thanks "No Trust" BUT - What is said and what actually happens are two different things, as we know! We love it that the courts "ensure that their actions are transparent and in the best interests of investors." What a load of bull****!!!

 

[No Trust]

https://insolvencynewsonline.com.au/equititrust-settlement-inescapably-unedifying/

 

[No Trust]

Justice Jagot is right in saying this outcome is distasteful for creditors of Equititrust..

I can’t see how the Liquidators can proceed with in any further litigation given the comments by Justice Jagot.
How are investors served if a single dollar is wasted on unnecessary litigation.

 

[No Trust]

Given Justice Jagot’s comments regarding the Liquidators litigation, the creditors need to have a vote on any further legal proceedings the Liquidators want to involve themselves in... A single further dollar wasted which could be returned to creditors needs to be fully explained and put to a vote of the creditors... Enough is enough, the creditors are not winning from the Liquidators adventures into speculative litigation...

 

[Mozzi]

Given Justice Jagot’s comments regarding the Liquidators litigation, the creditors need to have a vote on any further legal proceedings the Liquidators want to involve themselves in... A single further dollar wasted which could be returned to creditors needs to be fully explained and put to a vote of the creditors... Enough is enough, the creditors are not winning from the Liquidators adventures into speculative litigation...

Would be interesting to count up the total amount of money paid to lawyers, receivers, liquidators etc. against the amount actually paid to poor old investors...... anyone know an independent auditor?

 

[No Trust]

The most concerning aspect of all of this is the fact that the Liquidation Funder was paying the Liquidators Fees for approximately 7 years.

How is this not a Conflict ?

 

[No Trust]

The Creditors should call for a meeting and have the Liquidators explain why the litigation funder was paying them ? Was this previously disclosed to the creditors ?