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Equititrust?
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Re: Piper Alderman - Amanda Banton: dealings with BORROWERS and MM HOLDINGS
BORROWERS will now come forward with evidence of McIvor inflicted deals between BORROWERS and MM HOLDINGS etc to the detriment of EIF investors. AFP will have a field day with this one.
BORROWERS will watch as McIvor loses his oxygen.
REVENGE is a dish best served cold.
BORROWERS will now come forward with evidence of McIvor inflicted deals between BORROWERS and MM HOLDINGS etc to the detriment of EIF investors. AFP will have a field day with this one.
BORROWERS will watch as McIvor loses his oxygen.
REVENGE is a dish best served cold.
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Investors get the Loans McIvor Rapes the Fund of Profit
The Piper Alderman letter is compelling reading as it sets out the claim against McIvor and I say McIvor because he was calling all the shots... Loans in excess of 100M were taken out to improve the funds performance yet McIvor took the profit out through unilaterally altered fee structures which were not arms length to the tune of over $70M and did not pay back the banks a cent until he was forced to by Commonwealth Bank and then the others. So basically he raped and pillaged the funds and then left the innocent elderly retirees with the bank debt
He then had the guts to say that he had absorbed 35 Million in impairments earlier this year and put MM Holdings money back into the fund. The bastard was putting back money that was never his but the investor's money and then to top it off charged charged massive interest again for doing so...
This has been the rip off of the century
The Piper Alderman letter is compelling reading as it sets out the claim against McIvor and I say McIvor because he was calling all the shots... Loans in excess of 100M were taken out to improve the funds performance yet McIvor took the profit out through unilaterally altered fee structures which were not arms length to the tune of over $70M and did not pay back the banks a cent until he was forced to by Commonwealth Bank and then the others. So basically he raped and pillaged the funds and then left the innocent elderly retirees with the bank debt
He then had the guts to say that he had absorbed 35 Million in impairments earlier this year and put MM Holdings money back into the fund. The bastard was putting back money that was never his but the investor's money and then to top it off charged charged massive interest again for doing so...
This has been the rip off of the century
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Re: Piper Alderman - Amanda Banton: dealings with BORROWERS and MM HOLDINGS
If thats true, then this is fraud on a major scale... Its no wonder the Federal Police and ASIC raided the offices and McIvor's home...
Dirty Deeds Done Dirt Cheap...
If thats true, then this is fraud on a major scale... Its no wonder the Federal Police and ASIC raided the offices and McIvor's home...
Dirty Deeds Done Dirt Cheap...
Re: Piper Alderman - Amanda Banton: dealings with BORROWERS and MM HOLDINGS
From the Church of "Latter day Consciences"?
From the Church of "Latter day Consciences"?
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ASIC Interviews
This will not make McIvor Happy... Sideways shuffle of dealing with borrowers to the benefit of MM Holdings is not the right thing to do Marky Boy... There were innocent retiree investors who once trusted you, that will never happen again in your lifetime...
This will not make McIvor Happy... Sideways shuffle of dealing with borrowers to the benefit of MM Holdings is not the right thing to do Marky Boy... There were innocent retiree investors who once trusted you, that will never happen again in your lifetime...
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Wayne McIvor
Maybe Wayne McIvor should be given immunity by ASIC to spill the beans on what really went on...
Maybe Wayne McIvor should be given immunity by ASIC to spill the beans on what really went on...
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Revelations
The revelations to come out over the coming months will be eye watering stuff which will demonstrate the disrespect McIvor basically had for everyone... Is there anyone he has remained on good terms with ?
The revelations to come out over the coming months will be eye watering stuff which will demonstrate the disrespect McIvor basically had for everyone... Is there anyone he has remained on good terms with ?
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BDO - David Whyte
BDO will now have to appoint new lawyers and retrieve the files from Tucker... Tucker will have no option but to hand them over as he is and was in a position of conflict and should not have charged any legal fees. Watch this one develop over the coming weeks.
Tucker is also seeking revenge on McIvor and will put the boot in, at the same time he will put the boot into himself....
All these guys are a laughing stock in the business community at the moment...
BDO will now have to appoint new lawyers and retrieve the files from Tucker... Tucker will have no option but to hand them over as he is and was in a position of conflict and should not have charged any legal fees. Watch this one develop over the coming weeks.
Tucker is also seeking revenge on McIvor and will put the boot in, at the same time he will put the boot into himself....
All these guys are a laughing stock in the business community at the moment...
BDO (David Whyte)
From the Equititrust WEB site:
http://www.equititrust.com.au/Pdfs/Notifications/20111122/Draft_Order_21112011.pdf
Para 4
4. Pursuant to section 1101B of the Act, Mr Whyte be appointed as:-
(a) a receiver of the property of the EIF; and
(b) a receiver of the property of the EPCIF,
until 4:00pm on Wednesday 23 November 2011, or further earlier order.
What is reasoning for short term appointment??
From the Equititrust WEB site:
http://www.equititrust.com.au/Pdfs/Notifications/20111122/Draft_Order_21112011.pdf
Para 4
4. Pursuant to section 1101B of the Act, Mr Whyte be appointed as:-
(a) a receiver of the property of the EIF; and
(b) a receiver of the property of the EPCIF,
until 4:00pm on Wednesday 23 November 2011, or further earlier order.
What is reasoning for short term appointment??
Re: BDO (David Whyte)
Because the application is BACK BEFORE THE COURT TOMORROW.
You will see that TUCKER SF PTY LTD (David Tucker) has joined in as a Respondent.
http://apps.courts.qld.gov.au/esearching/FileDetails.aspx?Location=BRISB&Court=SUPRE&Filenumber=10478/11
Because the application is BACK BEFORE THE COURT TOMORROW.
You will see that TUCKER SF PTY LTD (David Tucker) has joined in as a Respondent.
http://apps.courts.qld.gov.au/esearching/FileDetails.aspx?Location=BRISB&Court=SUPRE&Filenumber=10478/11
Re: BDO (David Whyte)
Interesting enough - if your look at TUCKER SF PTY LTD's original application last week, this DAVID WHYTE filed an Affidavit in support of Tucker's Application. This makes me think that he is in Tucker's pocket............
http://apps.courts.qld.gov.au/esearching/FileDetails.aspx?Location=BRISB&Court=SUPRE&Filenumber=9534/11
Interesting enough - if your look at TUCKER SF PTY LTD's original application last week, this DAVID WHYTE filed an Affidavit in support of Tucker's Application. This makes me think that he is in Tucker's pocket............
http://apps.courts.qld.gov.au/esearching/FileDetails.aspx?Location=BRISB&Court=SUPRE&Filenumber=9534/11
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Appointment Time Frame
If you look at the order the appointment time frame till the 23rd is to do with ASIC having to make an oral application for intervention and the appointment of an independent receiver due to the short notice given by Equititrust. ASIC's application has been adjourned till 10.00am on the 23rd to allow ASIC to file proper documentation ratifying the appointment as well as to allow the banks mentioned in the order to assess their position in terms of whether they are happy with the appointment. The banks if they wish as secured creditors can appoint who they wish to recover their money. In the meantime to preserve files etc the court has taken the drastic measure of taking control away from ET and McIvor as soon as the other directors resigned yesterday.
If you look at the order the appointment time frame till the 23rd is to do with ASIC having to make an oral application for intervention and the appointment of an independent receiver due to the short notice given by Equititrust. ASIC's application has been adjourned till 10.00am on the 23rd to allow ASIC to file proper documentation ratifying the appointment as well as to allow the banks mentioned in the order to assess their position in terms of whether they are happy with the appointment. The banks if they wish as secured creditors can appoint who they wish to recover their money. In the meantime to preserve files etc the court has taken the drastic measure of taking control away from ET and McIvor as soon as the other directors resigned yesterday.
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Draft Order
The draft Order interestingly enough has Tucker and Cowen as he solicitors. WTF is going on...
The draft Order interestingly enough has Tucker and Cowen as he solicitors. WTF is going on...
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Re: BDO (David Whyte)
I have looked at the court documents and there is no reason for alarm. The application was commenced by Tucker and ASIC intervened in that proceeding so the orders etc are still part of that action. The consent from David Whyte was in support of ASIC's intervention not Tucker's as Tucker wanted to load the decks with his own receiver, Clout which the court rejected.
The application tomorrow is the ratification of ASIC's oral application to have David Whyte appointed. Neither McIvor or Tucker will be happy with this.
The only thing Tucker has done is expedite the demise of Equititrust by bringing an urgent application. So he has basically royally F#cked his old mate McIvor.
Everything in terms of BDO and David Whyte is kosher, everything in terms of Tucker and McIvor is crooked...
I have looked at the court documents and there is no reason for alarm. The application was commenced by Tucker and ASIC intervened in that proceeding so the orders etc are still part of that action. The consent from David Whyte was in support of ASIC's intervention not Tucker's as Tucker wanted to load the decks with his own receiver, Clout which the court rejected.
The application tomorrow is the ratification of ASIC's oral application to have David Whyte appointed. Neither McIvor or Tucker will be happy with this.
The only thing Tucker has done is expedite the demise of Equititrust by bringing an urgent application. So he has basically royally F#cked his old mate McIvor.
Everything in terms of BDO and David Whyte is kosher, everything in terms of Tucker and McIvor is crooked...
Interesting enough - if your look at TUCKER SF PTY LTD's original application last week, this DAVID WHYTE filed an Affidavit in support of Tucker's Application. This makes me think that he is in Tucker's pocket............
http://apps.courts.qld.gov.au/esearching/FileDetails.aspx?Location=BRISB&Court=SUPRE&Filenumber=9534/11
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Legal Costs
If you read the order as I predicted all the costs come out of the EIF and reduce the return to investors... McIvor caused all of this and could haver prevented all this from happening in 2008 instead he continued to plunder the fund like a drunken pirate and made delusional commercials with Matt Corkin for Landsolve whilst Equititrust burnt to the ground. Investors paid for those idiotic commercials...
But what makes me laugh the most is the scrutiny this web site and thread put McIvor under whilst he was trying to rip off more innocent investors... He could not move an inch as everything was reported on this website and then in the national media...
As in the other revolutions that have taken place this year technology has played a big part in the demise of despots around the world. This financial despot is now finished as well...
Looks like that smoke ceremony around the offices didn't work out so well Marky Boy better luck next time...
If you read the order as I predicted all the costs come out of the EIF and reduce the return to investors... McIvor caused all of this and could haver prevented all this from happening in 2008 instead he continued to plunder the fund like a drunken pirate and made delusional commercials with Matt Corkin for Landsolve whilst Equititrust burnt to the ground. Investors paid for those idiotic commercials...
But what makes me laugh the most is the scrutiny this web site and thread put McIvor under whilst he was trying to rip off more innocent investors... He could not move an inch as everything was reported on this website and then in the national media...
As in the other revolutions that have taken place this year technology has played a big part in the demise of despots around the world. This financial despot is now finished as well...
Looks like that smoke ceremony around the offices didn't work out so well Marky Boy better luck next time...
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Expect the banks to move after tomorrow's proceedings...
Re: Wayne McIvor and ASIC
you will find that ASIC will already be onto that - and are also talking to the old Directors as well as the major Borrowers
you will find that ASIC will already be onto that - and are also talking to the old Directors as well as the major Borrowers
NICK 'CYCLOPS' NICHOLLS: good old one eye!
you have to give one thing to Nick Nicholls - blind loyalty - with Supreme Court shut down; ASIC Receiver, Liquidator on the horizon, ASIC and AFP intervention, Board number 3 walking out - no PI insurance for any new Board possible ...... he still manages to put a positive spin on events at the good ship SS EQUITITLOST .... I love his work - rivalled only by Matt Corkin/Ian Maurice.....I am just waiting for a set of steak knives to be thrown in
look at today's doozy in the Gold Coast press.... courtesy NICK 'CYCLOPS' (one eye) NICHOLLS....(and I quote
The move has put the future of Equititrust in limbo, although the court has in effect granted permission for company founder and sole shareholder Mark McIvor to resume control of the company and possibly appoint a new board.
Future in LIMBO ? are you serious ? LIMBO - ???? what part of closing it down and winding it up and being sued by creditors, its banks and investors , does not resonate in your head man
granted permission.... to resume control: ah , no, I dont see those words used or implied in any orders..... what I see is a rotting corporate carcass, which McIvor has stepped back into because no-one else will..... dont put mis-leading positive spin implying that his albeit temporary re-emergence is somehow Court sanctioned.... come on, you can do better than this, Nick - why not ring ASIC - you got the number? - find out where they are up to..... granted peromission - come on .... anyone got the Press Council's phone number?
Come on - you didn't study all those years at Journo school to do this stuff, did you?
Mr Editor - please - get out the scissors and start doing some editing.... lrts atleast get this stuff close to the mark.....
you have to give one thing to Nick Nicholls - blind loyalty - with Supreme Court shut down; ASIC Receiver, Liquidator on the horizon, ASIC and AFP intervention, Board number 3 walking out - no PI insurance for any new Board possible ...... he still manages to put a positive spin on events at the good ship SS EQUITITLOST .... I love his work - rivalled only by Matt Corkin/Ian Maurice.....I am just waiting for a set of steak knives to be thrown in
look at today's doozy in the Gold Coast press.... courtesy NICK 'CYCLOPS' (one eye) NICHOLLS....(and I quote
The move has put the future of Equititrust in limbo, although the court has in effect granted permission for company founder and sole shareholder Mark McIvor to resume control of the company and possibly appoint a new board.
Future in LIMBO ? are you serious ? LIMBO - ???? what part of closing it down and winding it up and being sued by creditors, its banks and investors , does not resonate in your head man
granted permission.... to resume control: ah , no, I dont see those words used or implied in any orders..... what I see is a rotting corporate carcass, which McIvor has stepped back into because no-one else will..... dont put mis-leading positive spin implying that his albeit temporary re-emergence is somehow Court sanctioned.... come on, you can do better than this, Nick - why not ring ASIC - you got the number? - find out where they are up to..... granted peromission - come on .... anyone got the Press Council's phone number?
Come on - you didn't study all those years at Journo school to do this stuff, did you?
Mr Editor - please - get out the scissors and start doing some editing.... lrts atleast get this stuff close to the mark.....
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