Equititrust?

No Trust said:

6 October 2019

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No Trust said:

Equititrust?

https://www.businessnewsaus.com.au/articles/tucker---cowen-partners-scoop-awards-pool.html TUCKER & COWEN PARTNERS SCOOP AWARDS POOL Written on the 28 April 2015 TUCKER & Cowen has blitzed the latest Doyle's Guide rankings, with three partners being singled out. Richard Cowen, David Tucker...

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Meanwhile, whilst MS Asia was financially raping and pillaging the Equititrust Premium Fund with wanton abandon, the Liquidators alleging in court filings that BOSI bank statements were being altered after the fact increasing the debt - The receivers of the Equititrust Income Fund, BDO were ploughing litigation and recovery work Tucker & Cowan’s way.

This was a monumental CONFLICT OF INTEREST and BDO knew the contentious and controversial prior roles of Tucker and Kennedy at Equititrust. ASIC intervened in court proceedings where Tucker was trying to appoint his own receivers to Equititrust and applied to have an “independent court appointed receiver”...

Friday’s judgement by Bowskill J should OUTRAGE investors of the Equititrust Income Fund.

A court appointed “Contradictor” representing the “unrepresented interests” of EIF investors and creditors needs to be appointed by the court to investigate the conflict of interest in BDO giving swathes of legal work to Tucker & Cowan and to look into any consultancy payments made to David Kennedy as a result of meetings with him as listed in the billing sheets of BDO.

The “Court Appointed Contradictor” needs to :

1) Independently examine the billing of BDO as it relates to meetings with Tucker & Cowan representing MS Asia.

2) Have Independent experts review the quantum of billing by Tucker & Cowan in relation to the work given to them by BDO relating to the EIF which was clearly a conflict of interest.

3) Apply to have independent forensic experts review the BDO and Tucker & Cowan billing and seek directions from the court for compensation for any billing amounts which are found to be not in accordance with the law.

It’s clear from the judgement of Justice Bowskill that there are serious allegations of self interests being served and multiple allegations of self dealing.

For BDO to have the temerity to tell the Courier Mail that giving work to Tucker & Cowan Solicitors was in the best interests of investors, is the antithesis of what was in the best interests of investors as is played out in the factual matrix of allegations outlined by Bowskill J in pushing the matter to a full trial.

Extract from the Courier Mail 2019...

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