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Equititrust?

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Courier Mail Article Today

Mark's off on his own journey," a family source said.

The above comment from a family source sums it all up...
 
Re: What a DISASTER - LAZAR - if Lazar was a crook he be on charges or in jail

neither of which seem to be the case....

why doesn't Senator Williams: a) reveal who put him up to making his attack in Parliament, and b) if he belivees so strongly in what he said and is so adamant that it is true - why not step out of Parliament onto the steps and repeat the allegations in public and then avail Lazar of the opportunity to defend himself..... OR MAYBE all of this is a load of B-LLSH-T and Sen. Williams knows or suspects this.... so who put him up to it?

Thank heavens for the SMH media and Ian Lazar for maintaining the fight !!!!


No Trust said:
What's next in the scandalous "McIvor" soap opera... It's turning into a national public humiliation... Suing his brother and sister for amounts of $217... Are things that bad that you have to attack your own family... It's seems there will be more tears to report on in the coming weeks as this scandal explodes.. The sad and sorry thing is that investors have to watch this embarrassment from the sidines whilst their money goes down the tubes on legal fees.. McIvor will use the investors money to fund the legal fees unless something is done to stop this joke. I can't comment on Ian Lazar's past but at least he is doing something to stop this rot and appoint a liquidator. There is no hope for Equititrust the game is well and truly over...
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Lazar's record.

Here's a record of previous action by Ian Lazar:

No Trust said:
"Equititrust confirmed yesterday that the application was filed by Rural Security Holdings, a company associated with Ian Lazar."

http://www.smh.com.au/business/wind...f-woes-facing-equititrust-20110503-1e6na.html
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Ian Lazar has already had a go at Equititrust and failed - this action was thrown out and costs awarded against him. I don't understand why he's being touted as a white knight. The history of this failed manoeuvre was detailed in this thread back in early May of this year for anyone interested.
 
Lazar's record: agreed BUT what did it cost us?

if what he is spruiking is correct AND Equititrust is insolvent and he can prove it in Court and as a result we get the corporate watch dog in there and some proper action etc - well, lets let him do it..... I dont want him to run EIF - heaven forbid - BUT if he can do what no-one else has been able to do - well, lets not get in his way - he might be the one who finally gets this cowboy outfit brought to order...... while there is anything left in tact -

I am told that he has very very solid financial backing..... so someone thinks he is OK at what he does - heaven forbid - the EIF management was woeful in the extreme -

their last LANDSOLVE touted deal has ended within 8 months with the Meridien boys suing EIF etc - so how smart a deal was that? and that was under the watch of all the current boys and CEO Kolonel 'I know nuthink' Klink Kennedy and good old Maddog!

You cant blame the GFC or the collapse of the Roman arch for these monumental gaffes! These were made under the watch of the present incumbents and post GFC. Delusional.

The TRUST MUTUAL and GUARDIAN marriage and the new investment bank with MAINSTREET INVESTMENT INTERNATIONAL - delusional!

Saving communties through some delusional community strategic partnership model - delusional!

Even 17yo EIF veteran Wayne McIvor who bundled out of the place in April 2010 with Nick Haney in toe, is being sued by Maddog!

Hell - this escapade could be turned into a mini series to rival Channel 9's UNDERBELLY - we could save money on production costs, though - Ian Maurice has some great footage of Maddog and the in-credible sidekick CORKIN doing their best at selling seats on teh TITANIC , mid-Alantic ..... you can still find this footage on YOUTUBE for those who want a good laugh.....



Olman said:
Here's a record of previous action by Ian Lazar:



Ian Lazar has already had a go at Equititrust and failed - this action was thrown out and costs awarded against him. I don't understand why he's being touted as a white knight. The history of this failed manoeuvre was detailed in this thread back in early May of this year for anyone interested.
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IT'S been a big week for Gold Coast multimillionaire Mark McIvor. And it was an almost Churchillian Equititrust founder McIvor who fronted a fairly hostile meeting of the troubled funds manager on the Goldy yesterday.

McIvor - who The Courier-Mail yesterday revealed was suing his siblings for decade-old loans as small as $271 - stepped down as Equititrust head a few months back as part of a restructure. But he was invited to the Royal Pines podium to try to pacify about 600 mainly grandma and grandpa investors whose dough has been frozen since the GFC.

The silver-haired, silver-tongued surfie-made-good told the crowd he stood beside them "as your fellow investor and as the 100 per cent shareholder of Equititrust".

He said he had committed his personal wealth to salvage the fund in what had been "the most challenging period" of his 29-year career.

"I want you to know that I have not left my post. I want you to know that I have been working unrelentingly for the past 12 months ... for our future. Everything that I am in business, I've committed. I want you to know my commitment will not diminish."

Quoting US magnate Warren Buffett, McIvor added: "When it comes to your reputation and money, don't forget - it is only money."
 
Re: Equititrust: McIVOR is he serious?

what a load of crap.....

the forensic examination will show (come on ASIC. come on Piper Alderman, come on Ian Lazar) that his money (if any) was taken out long ago - a rubbish credit was created in the 2008/2009 accounts (declared and detailed in this web site and in this BLOG long ago) to in effect CREDIT what was drawn out - plus, the huge return on the sub-ordinated investment which was drawn out long after management knew that the FUND was seriously impaired (when they knew this they were under the CONSTITUTION no longer entitled to draw) PLUS managament fees..... the man has no real money in the EIF at all... and has not had for more than likley 3 years - the INVESTORS on the other hand have hard cash in the fund.... and they have not seen a cracker for nearly 3 years.....

at what time did McIvor know that Quinlivan/Ipswich was bad; that Wirrina Golf Course was a dud, that Konstaninidis was a disaster, that Meridien was getting the heat from BOS and set to fail????? 2009? 2010??? the list goes on and on ......

Mark - forget your Roman quotes and pithy chronicles - there is a more apt saying - you can fool some of the people, some of the time BUT you can't.... (you know the reast...)

the gig is up, as they say ......



zencorp said:
IT'S been a big week for Gold Coast multimillionaire Mark McIvor. And it was an almost Churchillian Equititrust founder McIvor who fronted a fairly hostile meeting of the troubled funds manager on the Goldy yesterday.

McIvor - who The Courier-Mail yesterday revealed was suing his siblings for decade-old loans as small as $271 - stepped down as Equititrust head a few months back as part of a restructure. But he was invited to the Royal Pines podium to try to pacify about 600 mainly grandma and grandpa investors whose dough has been frozen since the GFC.

The silver-haired, silver-tongued surfie-made-good told the crowd he stood beside them "as your fellow investor and as the 100 per cent shareholder of Equititrust".

He said he had committed his personal wealth to salvage the fund in what had been "the most challenging period" of his 29-year career.

"I want you to know that I have not left my post. I want you to know that I have been working unrelentingly for the past 12 months ... for our future. Everything that I am in business, I've committed. I want you to know my commitment will not diminish."

Quoting US magnate Warren Buffett, McIvor added: "When it comes to your reputation and money, don't forget - it is only money."
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SUMMONS SERVED POTENTIAL PARTNERSHIPS AND ASSOCIATIONS FALLING APART

SUMMONSES have been served in the LAZAR Vs McIVOR matter - Court orders not being met

POTENTIAL PARTNERSHIPS for new INVESTMENT BANK deal falling apart as information and emails leak like a seive all over the place

PROFESSIONAL ASSOCIATIONS and FAMILY RELATIONSHIPS all asunder

The good ship S.S. EQUITITRUST is lurching onto the rocks....

:mad:
 
Re: Equititrust: dumb and dumber......

http://www.couriermail.com.au/busin...k-in-13m-lawsuit/story-e6freqmx-1226133530130

how smart are these guys?

McIvor had QUINLIVAN running some of his largest assets. Now, he is suing him. He even provided a glowing reference at his ASIC hearing! Apparently QUINLIVAN crew was running the WIRRINA GOLF COURSE asset loan for a year in 2009 and drew out huge fees with McIVOR blessing. Wait till Piper Alderman digs into that arrangment!

LANDSOLVE was spruiking MERIDIEN as a new stellar investment only 8 months ago! Wont ASIC be impressed by those disclosures.

McIVOR had his new investment bank GUARDIAN in place underpinned with credibility of the MAIN STREET INVESTMENT GROUP and the very credible Russell McCART (who EIF is now suing) - both of whom have jumped ship.
 
It's extraordinary, isn't it? It wasn't so long ago that you guys were only worried about getting your interest distributions.

This is how it goes for all of us - just like a multi-strand wire rope under enormous pressure, one strand breaking at a time, until such time as the rope can no longer support the load.

:banghead:
 
NOT ONCE ON THIS WEB SITE DID I EVER EXPECT INVESTORS WOULD SEE INTEREST PAID

I was a lone voice predicting 80cents in the dollar at best - and revised in FEB 2011 to less than 50cents per $ - I think it will wash out at about 44cents.... when the Phantom employee was using the same PC as David Kennedy and posting bogus blogs onto this web site refuting all that we were , correctly as it turns out, saying.....



ASICK said:
It's extraordinary, isn't it? It wasn't so long ago that you guys were only worried about getting your interest distributions.

This is how it goes for all of us - just like a multi-strand wire rope under enormous pressure, one strand breaking at a time, until such time as the rope can no longer support the load.

:banghead:
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A walk down memory lane:-

Fund return, 30 June 2010:
http://equititrust.com.au/Pdfs/FinReport062010.pdf

Return on Responsible Entity’s subordinated investment (13,244,244)
Management fee (4,070,936)

Over $17m in benefits, and then ALL OF A SUDDEN on 31 December 2010, Impairment losses of (13,206,635) were disclosed.

http://equititrust.com.au/Pdfs/EIF_Fin_statement_DEC_31_10.pdf

Look, by co-incidence, the impairment LOSSES equal the manager's return for the subordinated investment.

It's unfortunate that the impairment didn't arise before 30 June 2010, because instead of losing a total of $26.4m, the loss would only have been $13.2m and the manager wouldn't have received the return on the subordinated investment.

Yes, timing is everything.
 
Re: Equititrust an excellent and timely reminder of what these thieves did to us

This is exactly what ASIC and PIPER ALDERMAN will focus on.... MCIvor Kennedy and probably the Board knew by the time he signed off 30th June 2010 accounts that the place was finished but they all had to pretend all was OK so that they could keep sucking huge management fees hut finally after a delay of 2 years the GFC tsunami finally reaches EIF Wasn't Mark lucky? Otherwise may have had to sell his house a year earlier

as you say TIMING IS EVERYTHING

ASICK said:
A walk down memory lane:-

Fund return, 30 June 2010:
http://equititrust.com.au/Pdfs/FinReport062010.pdf

Return on Responsible Entity’s subordinated investment (13,244,244)
Management fee (4,070,936)

Over $17m in benefits, and then ALL OF A SUDDEN on 31 December 2010, Impairment losses of (13,206,635) were disclosed.

http://equititrust.com.au/Pdfs/EIF_Fin_statement_DEC_31_10.pdf

Look, by co-incidence, the impairment LOSSES equal the manager's return for the subordinated investment.

It's unfortunate that the impairment didn't arise before 30 June 2010, because instead of losing a total of $26.4m, the loss would only have been $13.2m and the manager wouldn't have received the return on the subordinated investment.

Yes, timing is everything.
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EQUITITRUST Westpac BREAKING NEW

It seems that McIvor private companies have large Westpac where the security held comprises both private companies and a guarantee of EQUITITRUST. This liability was not disclosed to Board and auditors. This shock revelation will shake the Board to the core.The very credible Mainstreet Group has already jumped ship from Equititrust 'revenge bank' ..... Trust Mutual Guardian Landsolve...... don't expect respected QC and McIvor family friend David Jackson to tolerate this for long as Meridien Lazar circle with litigation and ASIC ready to pounce. Other borrowers whom Mad dog McIvor affectionately now describes as REPTILES...are revving up for litigation..... every broken promise will find its way into an Affidavit..... rather than Revenge Bank... it might be re-named Revenge of the Reptiles! oh, stop robbing our oxygen.
 
AND THE TRUTH COMES OUT!!!!! Someone has LODGED an Application to Wind Up Equititrust!!! Hopefully we are put out of out misery once and for all!

Give us our money back. :banghead::banghead::banghead:
 
McIvor's Fractured Relationships with EVERYONE.....

So David Jackson, the "NOT" so independent director resigns after what 2 months...

SERIOUSLY what the hell was Jackson thinking when he joined the board ??? As I predicted in a previous post, the sycophants around McIvor will go down with him as well… At least some like Jackson have seen what an abyss they have gotten themselves into…

I guess McIvor will be suing him now as well along with his own brother and sister and all the Reptile Borrowers.... He may even start to sue the ants crossing his driveway for trespass to try and get some damages to save his ass… Alas the game is over and the seconds are ticking to the time of implosion.

Fractured Personal and Business Relationships

Everyone McIvor seems to deal with ends up in a dispute with him... Then he goes back to the only thing he knows and that’s intimidation and litigation whether he is right or clearly wrong... Mediation does not come into his vocabulary...

The one thing that McIvor needs to realise is that when he points the finger of blame and litigation at people "3 fingers" are pointing right back at him... It’s those "3 fingers "that are now about to destroy Equititrust and unfortunately the lives of many innocent retiree investors…
 
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