Equititrust?
- Thread starter kostag
- Start date
- Status
My limited understanding of the law is that an administrator can be appointed to the RE who will take day to day responsibility to run the fund.
Members must vote to appoint a liquidator to wind up the fund.
A receiver may be appointed by the banks who have lent money to the fund.
Dont think an administrator can be appointed to the fund.
Members must vote to appoint a liquidator to wind up the fund.
A receiver may be appointed by the banks who have lent money to the fund.
Dont think an administrator can be appointed to the fund.
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
New Directors................
Mark and Stacey...... The public face of Gold Coast Shame with a penchant for Multimillion Dollar properties at the expense of Innocent Retiree Investors... This is a joke right...
Mark and Stacey...... The public face of Gold Coast Shame with a penchant for Multimillion Dollar properties at the expense of Innocent Retiree Investors... This is a joke right...
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Remind you of the Ceaușescu's
Mark and Stacey taking over.... This is similar to the reign of the Ceaușescu's in the dying days of communist Romania... Look what happened to them...
Mark and Stacey taking over.... This is similar to the reign of the Ceaușescu's in the dying days of communist Romania... Look what happened to them...
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Mark and Stacey
Delusional Morons
Delusional Morons
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
3 Stooges
Is this the same Ross Honeyman that was banned by ASIC in early 2001 - 2002 ???
Is this the same Ross Honeyman that was banned by ASIC in early 2001 - 2002 ???
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
David Whyte from BDO Australia a Partner in the Brisbane Office will be appointed receiver in the morning after ASIC intervened and had someone independent appointed...
McIvor I told you your scam would not work and I made sure of it... Wait till David Whyte gets a hold of you now... GOOD WORK ASIC
To Vincent "The Idiot" and the other moronic directors who took this on F#ck Off and don't think you will be forgotten for trying to rape investors further and do McIvor's dirty bidding.
We all told you that you would all be resigning soon you pathetic useless Gold Coast Cowboys...
Adios Amigos
McIvor I told you your scam would not work and I made sure of it... Wait till David Whyte gets a hold of you now... GOOD WORK ASIC
To Vincent "The Idiot" and the other moronic directors who took this on F#ck Off and don't think you will be forgotten for trying to rape investors further and do McIvor's dirty bidding.
We all told you that you would all be resigning soon you pathetic useless Gold Coast Cowboys...
Adios Amigos
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
David Whyte BDO Australia
Profile of David Whyte BDO Australia
http://www.bdo.com.au/people/david-whyte
The great thing about this appointment is the fact that the appointment was made by ASIC so BDO are answerable to the regulator and can run a totally independent parallel forensic investigation to the one ASIC is currently running with the Australian Federal Police.
This is a major milestone in the protection of investors from McIvor's mad stooges who could not run a chook raffle. What were Kennedy, Goddard, Tucker etc doing all this time ??? I know hiding McIvor's evil deeds from the investors and general public. I guess this is why they now find their sorry arses in the middle of a class action. This will cost them Millions to defend and will also make each and every one of them uninsurable just like Equititrust.
David Whyte has a big job ahead of him and it seems that one of his first jobs will be to shut the Equititrust Offices down.
Profile of David Whyte BDO Australia
http://www.bdo.com.au/people/david-whyte
The great thing about this appointment is the fact that the appointment was made by ASIC so BDO are answerable to the regulator and can run a totally independent parallel forensic investigation to the one ASIC is currently running with the Australian Federal Police.
This is a major milestone in the protection of investors from McIvor's mad stooges who could not run a chook raffle. What were Kennedy, Goddard, Tucker etc doing all this time ??? I know hiding McIvor's evil deeds from the investors and general public. I guess this is why they now find their sorry arses in the middle of a class action. This will cost them Millions to defend and will also make each and every one of them uninsurable just like Equititrust.
David Whyte has a big job ahead of him and it seems that one of his first jobs will be to shut the Equititrust Offices down.
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
ASIC moves to install receiver at Equititrust
ASIC moves to install receiver at Equititrust
Colin Kruger
Sydney Morning Herald
November 22
Burnt ... the sun is going down on the Equititrust empire with the impending closure of its flagship fund. Photo: Glenn Hunt
THE Australian Securities and Investments Commission is expected to appoint an independent receiver to Equititrust's flagship fund this morning in an attempt to stave off further losses by investors who entrusted more than $200 million with the Gold Coast mortgage fund operator.
The company's board applied to the Supreme Court of Queensland yesterday morning to have the Equititrust Income Fund wind up the fund.
Equititrust's directors were granted their wish when the court agreed to close the troubled fund but ASIC intervened to organise the appointment today of David Whyte as independent receiver.
http://www.smh.com.au/business/asic...equititrust-20111121-1nr04.html#ixzz1eMV9rYnb
ASIC moves to install receiver at Equititrust
Colin Kruger
Sydney Morning Herald
November 22
Burnt ... the sun is going down on the Equititrust empire with the impending closure of its flagship fund. Photo: Glenn Hunt
THE Australian Securities and Investments Commission is expected to appoint an independent receiver to Equititrust's flagship fund this morning in an attempt to stave off further losses by investors who entrusted more than $200 million with the Gold Coast mortgage fund operator.
The company's board applied to the Supreme Court of Queensland yesterday morning to have the Equititrust Income Fund wind up the fund.
Equititrust's directors were granted their wish when the court agreed to close the troubled fund but ASIC intervened to organise the appointment today of David Whyte as independent receiver.
http://www.smh.com.au/business/asic...equititrust-20111121-1nr04.html#ixzz1eMV9rYnb
Attachments
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Liquidators to Equititrust Ltd
Expect ASIC and or the Banks to now appoint Liquidators to Equititrust Ltd.
The banks have no other choice than to move on the company as secured creditors which will then set off a domino effect on MM Holdings Pty Ltd and MM Properties Pty Ltd etc... As the Westpac and Bank of QLD loans are cross collateralised...
McIvor will now get a taste of what he meted out to innocent people over the years, except this will be a monumental thrashing and a devastating blow to this ego maniac...
Might be time to send Stace out to bring home the Bacon "Markey Boy"
A few champagne corks have been popping around Australia once the news was received that McIvor the miserable bastard that he is will no longer have his tentacles any where near retiree investors money again... Thats it Marky... finished kaput.... Adiós Amigos
Expect ASIC and or the Banks to now appoint Liquidators to Equititrust Ltd.
The banks have no other choice than to move on the company as secured creditors which will then set off a domino effect on MM Holdings Pty Ltd and MM Properties Pty Ltd etc... As the Westpac and Bank of QLD loans are cross collateralised...
McIvor will now get a taste of what he meted out to innocent people over the years, except this will be a monumental thrashing and a devastating blow to this ego maniac...
Might be time to send Stace out to bring home the Bacon "Markey Boy"
A few champagne corks have been popping around Australia once the news was received that McIvor the miserable bastard that he is will no longer have his tentacles any where near retiree investors money again... Thats it Marky... finished kaput.... Adiós Amigos
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Piper Alderman - Amanda Banton
Piper Alderman has to be commended for being highly prepared and quick footed in issuing the Letter of Demand on the 11th of November prior to the Insurance expiry on the 12th of November...
Kudos to Amanda Banton
Piper Alderman has to be commended for being highly prepared and quick footed in issuing the Letter of Demand on the 11th of November prior to the Insurance expiry on the 12th of November...
Kudos to Amanda Banton
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Ground Zero
Reports are coming in of a massive implosion and appearance of a sink hole at the former site of the Equititrust Office on Chevron Island... Further reports are indicating that the final explosive device was detonated by ASIC... A number of dirty rats with briefcases by the name of McDermit, Vincent "the idiot" and Bingham were seen scuttling up Thomas Dr escaping the carnage... The rats took a right and scurried up the path of former Dark Knight McIvor and his Dark Maiden "Champagne"Stacey seeking refuge...
Reports are coming in of a massive implosion and appearance of a sink hole at the former site of the Equititrust Office on Chevron Island... Further reports are indicating that the final explosive device was detonated by ASIC... A number of dirty rats with briefcases by the name of McDermit, Vincent "the idiot" and Bingham were seen scuttling up Thomas Dr escaping the carnage... The rats took a right and scurried up the path of former Dark Knight McIvor and his Dark Maiden "Champagne"Stacey seeking refuge...
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Equititrust Website
The Equititrust Website has been taken offline... The takeover of EquitiRust begins in haste it seems before anymore delusional propaganda can be published by delusional McIvor and his co conspirator "Champagne Stacey"
The Equititrust Website has been taken offline... The takeover of EquitiRust begins in haste it seems before anymore delusional propaganda can be published by delusional McIvor and his co conspirator "Champagne Stacey"
LEGAL STEPS FROM HERE.........
I am not a lawyer (wish I was right now) ,,,,,, however as I understand....
1. ASIC's Receiver (Mr Whyte) is there simply to replace the RE and supervise the day to day running as the scheme winds down.
2. PIPER ALDERMAN (Amanda Banton) will continue on their path to sue the old R.E (Equititrust Limited) and its officers (McIvor, Wayne McIvor, David Tucker, David Kennedy, John Goddard, Sid Super, Craig Treasure) and through them, their insurers. I presume that MM Holdings Pty LImited, being the recipient of much largesse will also be on the radar.....
3. MEMBERS and or a CREDITOR (Mr Lazar?) will seek to appoint a LIQUIDATOR etc as clearly EQUITITRUST LTD and the EIF are INSOLVENT. This does not conflict with Mr Whyte's role as ASIC appointed Receiver.... he will maintain a watching brief over the wind down of the FUND and no doubt report all illegality to ASIC and teh AFP.
Now, this leaves SECURED CREDITORS - such as WESTPAC, CBA, BOSA, NATIONAL BANK.
They may be happy with the creditor appointed LIQUIDATOR - they know that there are enough layers of independence in place now - so why gouge costs for the sake of it. I think that they may sit pat and just liaise with the Liquidator and Receiver. That would make way more commercial sense.
One thing is for sure - McIvor and MM Holdings will cop a 'once over' - and if there is any juice left in the lemon - it will be squeezed out.
Two predictions:
1. final return to EIF invetsors will be NIL
2. there will be disclosure of deals between EIF borrowers and MM Holdings, where EIF funds under-wrote the deal BUT MM Holdings benefitted or stood to benefit.
Don't expect Bea Jeans to take a $12Million write off without some very interesting allegations coming to light. Ian Lazar is not a man to be trifled with either - he has not gone away yet.
I am not a lawyer (wish I was right now) ,,,,,, however as I understand....
1. ASIC's Receiver (Mr Whyte) is there simply to replace the RE and supervise the day to day running as the scheme winds down.
2. PIPER ALDERMAN (Amanda Banton) will continue on their path to sue the old R.E (Equititrust Limited) and its officers (McIvor, Wayne McIvor, David Tucker, David Kennedy, John Goddard, Sid Super, Craig Treasure) and through them, their insurers. I presume that MM Holdings Pty LImited, being the recipient of much largesse will also be on the radar.....
3. MEMBERS and or a CREDITOR (Mr Lazar?) will seek to appoint a LIQUIDATOR etc as clearly EQUITITRUST LTD and the EIF are INSOLVENT. This does not conflict with Mr Whyte's role as ASIC appointed Receiver.... he will maintain a watching brief over the wind down of the FUND and no doubt report all illegality to ASIC and teh AFP.
Now, this leaves SECURED CREDITORS - such as WESTPAC, CBA, BOSA, NATIONAL BANK.
They may be happy with the creditor appointed LIQUIDATOR - they know that there are enough layers of independence in place now - so why gouge costs for the sake of it. I think that they may sit pat and just liaise with the Liquidator and Receiver. That would make way more commercial sense.
One thing is for sure - McIvor and MM Holdings will cop a 'once over' - and if there is any juice left in the lemon - it will be squeezed out.
Two predictions:
1. final return to EIF invetsors will be NIL
2. there will be disclosure of deals between EIF borrowers and MM Holdings, where EIF funds under-wrote the deal BUT MM Holdings benefitted or stood to benefit.
Don't expect Bea Jeans to take a $12Million write off without some very interesting allegations coming to light. Ian Lazar is not a man to be trifled with either - he has not gone away yet.
Re: Piper Alderman - Amanda Banton : well done
getting in ahead of the lapsing of insurance with an all embracing detailed demand was obvioulsy a coup that may have saved us all a lot of money.
well done!!
getting in ahead of the lapsing of insurance with an all embracing detailed demand was obvioulsy a coup that may have saved us all a lot of money.
well done!!
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Piper Alderman - Amanda Banton
Me thinks the quick footed Amanda Banton and ASIC (12 December) Supreme Court will have a ripper of a Christmas Present for McIvor to put under his tree...
Me thinks the quick footed Amanda Banton and ASIC (12 December) Supreme Court will have a ripper of a Christmas Present for McIvor to put under his tree...
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Federal Police
The Federal Police have also been given a new file to examine which relates to past fraudulent actions... Its all about timing and taking the fire out from under your enemies vat of hot oil in which he is preparing to burn you alive...
No more fire under your vat Marky??? Whats up??? Starting to feel it??? Not a nice feeling is it??? Get ready for more buddy... You bloody deserve it...
The Federal Police have also been given a new file to examine which relates to past fraudulent actions... Its all about timing and taking the fire out from under your enemies vat of hot oil in which he is preparing to burn you alive...
No more fire under your vat Marky??? Whats up??? Starting to feel it??? Not a nice feeling is it??? Get ready for more buddy... You bloody deserve it...
No Trust
JUSTICE IS COMING...
- Joined
- 22 November 2010
- Posts
- 4,495
- Reactions
- 3,566
Financial Rape of Retiree Investors
Time to shake the tree "Marky Boy" Don't think we have forgotten what you have done under the radar... You will now be exposed for the financial rape of retiree investors... $150M in losses and piling up and yet this animal has the temerity to threaten investors that he will reconvert his bullsh#t subordinated investment... Good luck with that...
Time to shake the tree "Marky Boy" Don't think we have forgotten what you have done under the radar... You will now be exposed for the financial rape of retiree investors... $150M in losses and piling up and yet this animal has the temerity to threaten investors that he will reconvert his bullsh#t subordinated investment... Good luck with that...
- Status