- Joined
- 14 March 2012
- Posts
- 31
- Reactions
- 31
The liquidators are using the Equititrust liquidation as their own fee generating vehicle... Having squandered the $2M+ refund received from the taxation office, they now rely on fees from a litigation funder. Eg Tucker Litigation
Tucker deserves to have his ass sued off him but if it’s not going to result in a return to investors, then what’s the purpose other than to feed the liquidators fees... It’s time for them to front up to investors and give an update on whether any money will flow to them as a result of the litigation against Tucker...
I don't think you can hold up the liquidators as the highest paragons of virtue and ability.....but that said, the system is broken.
Once litigation funding is involved there is no real drive to settle until all funds have been exhausted. The only thing that exhausts the funds is the litigation itself. I am sure that someone can come up with an example of where litigation funded recovery generated a meaningful return to creditors - - - but it is exceptional.