Equititrust?

[No Trust]

Bleak Christmas

It would be remiss not to remember the Innocent Retiree Investor's at this time of year and the miserable Christmas inflicted upon them by Equititrust... Whilst some enjoy Christmas Turkey in luxurious Multimillion Dollar Mansions Innocent Retiree Investors have been thrown on the scrap heap without the ability to claim a pension...

In terms of blame, the old adage really does apply... When you point one finger at someone else three are pointing back at you... Maybe McIvor needs to reflect or mediate on this for a while and consider the pain and suffering of retiree investors who face complete decimation of their investment

It really is an appalling disgrace...

 

[kostag]

Life in the delusional fast lane will soon come to a screeching halt

ASIC and AFP are working hard on this matter and interviewing former exces, advisors, borrowers - it is all coming out and there are some alarming things that will hit - the result may lay open the pathway to insurance recoveries and perhaps some ultimate good news....

It would be remiss not to remember the Innocent Retiree Investor's at this time of year and the miserable Christmas inflicted upon them by Equititrust... Whilst some enjoy Christmas Turkey in luxurious Multimillion Dollar Mansions Innocent Retiree Investors have been thrown on the scrap heap without the ability to claim a pension...

In terms of blame, the old adage really does apply... When you point one finger at someone else three are pointing back at you... Maybe McIvor needs to reflect or mediate on this for a while and consider the pain and suffering of retiree investors who face complete decimation of their investment

It really is an appalling disgrace...

 

[No Trust]

ASIC and Federal Police Raids

The Federal Police and ASIC investigation as well as raids on the Equititrust offices will hopefully unveil the truth behind some of the transactions reported on in the media over the past year... The deals with "King Con" are of particular interest. As Colin Kruger of the Sydney Morning Herald reported in his expose "INVESTORS LOSE IN ENCOUNTER WITH KING CON" ,McIvor was fully aware of "King Con's" history and even provided a reference to him when he was being banned as a director by ASIC... It was reported in those proceedings that Equititrust would potentially be exposed to significant losses yet investors were oblivious to this until this year.

http://www.smh.com.au/business/investors-lose-in-encounter-with-king-con-20110612-1fz9d.html

This thread was a catalyst in exposing the loans to King Con and putting pressure on ASIC to finally do the right thing and take action against Equititrust...

Lets hope the investigation is thorough and that ASIC looks after investors interests for once...

 

[crookbuster]

Re: Mainstreet International Group

Those associated with this company group have a history of dishonest conduct. If you search on Google you will find that Mr Leif Schipper (an accountant) did some time in Jail from 2007 due to his involvement in a multi million dollar tax scam.

Mr Greg Hannan has allowed companies in his control to trade while insolvent Mainstreet International Marketing Group Pty 26 096 439 762 (insolvent). He also has a history of not ensuring his employees entitlements are paid. He should be attracting much attention from ASIC, ACCC and the tax office due his past conduct, track record and lack of corporate compliance.

Has the credibility of these companies ever been examined by the relevant authorities considering they are dealing in financial products and financial processing?

What protection do consumers have?

 

[kostag]

welcome to this site, CROOKBUSTER

if your allegations about MAINSTREET GROUP are correct..... a) in terms of their dealings with EIF etc - they all seem to be in good company, BUT b) on another note - doesn't it give a wonderful continuing insight into who McIvor will deal with - no background checking etc.... commit the EIF etc into deals and ventures - delusional REVENGE BANKS..... failed MFS executives allowed near the tiller (or was it TILL?) .....

I am told that McIvor maintained until recently close relationships with JIM BYRNES and IAN LAZAR....

King CON Quinlivan.....

the list of lunancy and misjudgements, goes on and on!

and in his Xmas message - his HOLINESS regales us all with the lessons learned (out of our money and at our expense) , and the new future for the company!

Delusional!

Those associated with this company group have a history of dishonest conduct. If you search on Google you will find that Mr Leif Schipper (an accountant) did some time in Jail from 2007 due to his involvement in a multi million dollar tax scam.

Mr Greg Hannan has allowed companies in his control to trade while insolvent Mainstreet International Marketing Group Pty 26 096 439 762 (insolvent). He also has a history of not ensuring his employees entitlements are paid. He should be attracting much attention from ASIC, ACCC and the tax office due his past conduct, track record and lack of corporate compliance.

Has the credibility of these companies ever been examined by the relevant authorities considering they are dealing in financial products and financial processing?

What protection do consumers have?

 

[No Trust]

Office Closure

The Equititrust Website states the offices will not reopen till the 16th of January...
A very lengthy shutdown it seems...

The Westpac receiver who will take control of the office building will review all the lease covenants in the building to ensure that rent is being paid etc... That will include Equititrust in terms of any lease it has with MM Holdings (In Receivership).

It will be interesting to see if the rent is paid up to date. All will come out in the property report when the building is put up for sale by the appointed marketing agents..

The question now is which bank will move next if they haven't already...

 

[kostag]

UNFAVOURABLE LEASE TERMS

I will take a guess...... the lease will be long onerous and the EIF will be underwritting it...probably even some hefty 'break fee' - all in favour of MM and against EIF....

.

The Equititrust Website states the offices will not reopen till the 16th of January...
A very lengthy shutdown it seems...

The Westpac receiver who will take control of the office building will review all the lease covenants in the building to ensure that rent is being paid etc... That will include Equititrust in terms of any lease it has with MM Holdings (In Receivership).

It will be interesting to see if the rent is paid up to date. All will come out in the property report when the building is put up for sale by the appointed marketing agents..

The question now is which bank will move next if they haven't already...

 

[No Trust]

Banks Finger on the Trigger

All the banks with exposure to Equititrust have issued default notices... Which bank will be the next to pull the trigger and appoint receivers...

 

[No Trust]

Re: UNFAVOURABLE LEASE TERMS

Yep no doubt there will be some sort of poison pill like the subordinated units... The good thing though is that receivers are not necessarily bound by such arrangements...

Receivers can reverse such things as loan agreements to shareholders, so in amongst the dealings of MM Holdings there may be agreements that the receiver can reverse particularly if they were structured to defeat creditors...

I will take a guess...... the lease will be long onerous and the EIF will be underwriting it...probably even some hefty 'break fee' - all in favour of MM and against EIF....

 

[No Trust]

Piper Alderman - Amanda Banton

Piper Alderman

Expect to see major action on this front in the new year...

Whilst the Federal Police and ASIC investigation gathers more evidence, Piper Alderman have done the right thing in waiting to launch proceedings.

Any action that ASIC and the Public Prosecutor may take will buttress Piper Alderman's case against Equititrust, McIvor and fellow directors David Tucker and David Kennedy etc... (as detailed in Piper Alderman's letter to Equititrust last month)

 

[awg]

Just a little matter regarding Centrelink and pensions.

I saw someone had published a missive from Centrelink deeming the method by which
Assets and Income from Equititrust are determined.

However, I would not take that as gospel, even though it will be applied initially at least.

My OPINION is that anyone in financial hardship due to denial of Centrelink payments because of deemed Equitrust should most definitely APPEAL against that, making systematic and complete use of the Centrelink appeals process, including AAT appeals. ( no cost)

It is important to officially start the process, there may be many twists and turns.
This sort of thing has happened before, these rulings are sometimes changed on appeal. Each case must also be judged on the individual circs, different outcomes may therefore apply. Technically, Centrelink should never attempt to dissuade you from appealing.

What I am saying is someone should appeal this all the way to the top

 

[No Trust]

Centrelink Appeal

That certain someone should have been Equititrust - McIvor, running a test case on behalf of their innocent retiree investors which have been thrown on the scap heap...

Instead investor's get delusional year end messages about rebuilding the company...........you cant rebuild a corpse...

The whole exercise has been one of keeping a McIvor personal assets intact not one of helping investors with centrelink...

Just a little matter regarding Centrelink and pensions.

I saw someone had published a missive from Centrelink deeming the method by which
Assets and Income from Equititrust are determined.

However, I would not take that as gospel, even though it will be applied initially at least.

My OPINION is that anyone in financial hardship due to denial of Centrelink payments because of deemed Equitrust should most definitely APPEAL against that, making systematic and complete use of the Centrelink appeals process, including AAT appeals. ( no cost)

It is important to officially start the process, there may be many twists and turns.
This sort of thing has happened before, these rulings are sometimes changed on appeal. Each case must also be judged on the individual circs, different outcomes may therefore apply. Technically, Centrelink should never attempt to dissuade you from appealing.

What I am saying is someone should appeal this all the way to the top

 

[kostag]

CORRUPTION AT EVERY LEVEL

every aspect of this operation appears to be crook - family in-fighting; washed out failed execs from other entities (MFS); inside and crook deals with dodgy clients; improper and reckless valuations; insider deals on office rents and sub-ordinated units..... side deals with SChipper, Mainstreet and the list goes on..... AFP and ASIC raids - what a scandal!!

 

[No Trust]

Federal Police and ASIC

The fact that the Federal Police and ASIC are involved is the fitting conclusion to this scandalous decimation of retiree investor's funds to the tune of
200M and rising...

Innocent lives have been ruined as a result of reckless lending and management...

The Piper Alderman Action in 2012 will reveal all and it's not going to be pretty...

 

[No Trust]

Gold Coast Bulletin - Disgrace

Despite a receiver being appointed to MM Holdings and the office building on Chevron Island being caught up in the imbroglio with Wesptpac Bank, Nick Nicholls has not mentioned one thing in the Gold Coast Bulletin. It is a newsworthy story as it relates to a substantial property holding going into receivership. What's wrong Nick, have you forgotten what impartial journalism is about ? At least other papers take up the slack where Nicholl's selectively decides not to report. How about a story on the plight of investors Nick who can't put food on their table and cannot get a pension, or is that a bit too hard to swallow. Gutlessness like this is what perpetuates amongst the white shoe brigade on the Gold Coast. It's easier to look away whilst retiree investors are thrown on the scrap heap. Nick Nicholls has nailed his collar to mast on this one and as the matter unfurls before the courts he may well live to regret his stance...

 

[No Trust]

Tick Tock

Tick Tock Tick Tock 2012 the investors will finally put those responsible in the Dock...
If Equititrust - McIvor think that this will blow away they are very mistaken... Investors will ramp up the pressure to another level. In terms of Equititrust itself it will cease to exist within the first half of 2012 if not the first 2 months given the recent bank defaults... The game will then shift to a claim against the insurers... McIvor's wife didn't resign for nothing... Remember this is now an ass saving exercise. McIvor's pontifications have amounted to nothing throughout the year.. Talk is cheap...

 

[SPECTRE]

RE: "CROOK BUSTER"

It is interesting to note that the “new Member” who has “referred” himself as being called “Crookbuster” is identical to the terminology used by Mark McIvor in forming a Company to act as a “Nuclear Device killer’ of so called white collar Criminals that HE has supposedly been affected by through Loans advanced from Equititrust Limited and through to his Private Companies including MM Holdings which is NOW in Receivership for “non payment” of Loan Repayments against eight (8) properties that MM Holdings owns, let alone the next Banks that will come into play for other properties and Loans.

This “Nuclear Device Killing company” that Mark McIvor referred to appears to be merely an attempted “smoke screen” to cover up Loans he had BOTH made to numerous parties including Lazar & King Con, even though ETL conducted the “valuations” and TAKEN for his own benefit, using ETL as additional security for Property Deals and even utilising ETL to Secure borrowings for his PERSONAL use and to “blow out” his Unit Holding in the ETL Funds to make HIS entity the LARGEST Unitholder at the Detriment of other Unitholders ; use of ETL security to fund purchase of Units in ETL Fund......how so ALLOWED by Auditors, ASIC and Corporations Act Provisions ?

CROOKBUSTER makes “direct” comments and NOT as having been “advised” by other parties which leads one to believe that CROOKBUSTER is either MARK McIVOR himself or associated entity as would NOT have “material” available to make ANY comments........interesting, let alone the âœtruthfulness” of his comments.......NOT !!

 

[SPECTRE]

Re: Crookbuster - MainStreet Spoken Of Incorrectly For Self Serving Reasons.....

If one does appropriate searches of ASIC and or MainStreet material, one clearly sees that Leif Schipper does NOT have an association with MainStreet, but in fact HIS Company acts as a Corporate Advisor and has done so for many years with numerous Public Companies, Listed and otherwise, both in Australia and on a global basis including USA and NASDAQ Listed Companies.

A Google Search of Leif Schipper simply shows an Article written in 2007 about a Lawyer by the name off Michael Brereton who had acted for and known to Leif Schipper over some 37 years and it is THAT Lawyer that the Article is about in so far as the Australian Crime Commission (ACC) continuing investigation of that Lawyer and NO connection of that Investigation with Leif Schipper. The reference made about Leif Schipper was the “attempted inference” that he MAY know something about his former Lawyer and such reference is a matter that Leif Schipper has apparently dealt with the ACC even though he has been cleared of ANY association with that Lawyer in the matter investigated by the ACC.

The reference to his own Court Case is actually 2002, NOT 2007 and relates to a client of his former Accounting Practice who entered into a Tax Effective Investment with an un-related Investment Promotion Company and is currently under review from an Appeal and Quashing basis ; NOT a multi million dollar scam of Leif Schipper’s making as CROOKBUSTER attempts to infer and sensationalise incorrectly for his own purposes, whatever they may be and whom ever HE may be. Interestingly, there is NO reference in Google or anywhere else regarding the case in question, simply the Sydney Moring Herald article of 2007 to which Leif Schipper was “unable” to pass comment due to “secrecy provisions” imposed by Government authorities. It is understood that negotiations are and have been underway for some years to have this case Appealed and Quashed at which time, no doubt, appropriate information will be produced by the “media” and Google alike.

The reference to the Director and MainStreet Marketing Group Pty ( correctly registered as Mainstreet International Marketing Group Pty Ltd) is simply FACTUALLY INCORRECT and the “specific details” that CROOKBUSTER is DIRECTLY referring to would NOT be known to him, even the correct ones,as such would ONLY be known to the original Administrator and now Liquidator. Interestingly, the now Liquidator of this Company is one David Clout of Brisbane whom Mr Mark McIvor “attempted” to have put in place in ETL without success ; how so does one Liquidator pass on ANY information whatsoever about a Company that he has an official position in.......we are sure that ASIC would like to ask the same question as to Professional Conduct !!

From records made available by the Company in question, the “REASON” for the Company being placed into Administration in the first place in December 2010 was due to the ATO seeking to “claw back” Research & Development Grants which it had not only approved BUT also paid out considerable sums ; a process it was also applying to many other Companies in Australia as appeared in the National Media.

The usual process by the ATO is to pursue “collection” of Refunds sought, whilst the Company attempts to go down an “objection” course ; the reality being, Objections would take far longer than the “collection process” by the ATO, hence the sole Director of the Company placed it into administration whilst putting together a Deed of Company Arrangement (DOCA) and a “rogue” disputed Creditor placed the Company into Liquidation during the process.

There is NO reference to “insolvent trading” of this or other MainStreet Companies and the reference to a “history of not paying entitlements” is neither recorded as such and comes from what source ? The Director in question by CROOKBUSTER and the referred Advisor, through the Voluntary Administration (VA) Process, that ALL bona fide employees received their entitlements via the Government Authority known as GEERS, upon which, ALL such Employees voted “in favour” of the attempted DOCA put forward by the Holding Company which had the support of ALL of the Holding Company Shareholders and Board of Directors, of which, the named Director by CROOKBUSTER is one of three such Directors.

Upon looking at MainStreet Information Memorandums there is NO mention of them dealing in “financial products” or “financial processing” ; another attempt it appears for the likes of CROOKBUSTER to create a “smoke screen” for Mark McIvor or for MM to do so himself via this “namesake” ......in ANY event, simply INCORRECT FACTUAL MATTERS ONCE AGAIN !!

Authorities referred to should be looking at ETL for the VERY reason that CROOKBUSTER attempts to relate to Mainstreet in a “fabricated” fashion ; ETL is the one with a “previous” AFS Licence for this purpose which has NOW been SUSPENDED for ONE YEAR and a Receiver placed in charge of its FUNDS !!

Those associated with this company group have a history of dishonest conduct. If you search on Google you will find that Mr Leif Schipper (an accountant) did some time in Jail from 2007 due to his involvement in a multi million dollar tax scam.

Mr Greg Hannan has allowed companies in his control to trade while insolvent Mainstreet International Marketing Group Pty 26 096 439 762 (insolvent). He also has a history of not ensuring his employees entitlements are paid. He should be attracting much attention from ASIC, ACCC and the tax office due his past conduct, track record and lack of corporate compliance.

Has the credibility of these companies ever been examined by the relevant authorities considering they are dealing in financial products and financial processing?

What protection do consumers have?

 

[kostag]

Re: Gold Coast Bulletin - NOT A GOOD EXAMPLE OF BALANCED JOURNALISTIC INTEGRITY

shame.........

Despite a receiver being appointed to MM Holdings and the office building on Chevron Island being caught up in the imbroglio with Wesptpac Bank, Nick Nicholls has not mentioned one thing in the Gold Coast Bulletin. It is a newsworthy story as it relates to a substantial property holding going into receivership. What's wrong Nick, have you forgotten what impartial journalism is about ? At least other papers take up the slack where Nicholl's selectively decides not to report. How about a story on the plight of investors Nick who can't put food on their table and cannot get a pension, or is that a bit too hard to swallow. Gutlessness like this is what perpetuates amongst the white shoe brigade on the Gold Coast. It's easier to look away whilst retiree investors are thrown on the scrap heap. Nick Nicholls has nailed his collar to mast on this one and as the matter unfurls before the courts he may well live to regret his stance...

 

[kostag]

Where are good investigative authors when you need one?
Paul Barry? Chris Masters?
“MARK McIVOR…. Australia’s Madoff”
Ideal to then run into a mini series…
Consider the issues and characters that can be drawn on….

Status Issue Witness accounts
Hapless investors Down about $200M 1,600 to choose from - and special accounts from the likes of Bee Jeanes who has dropped $16M.

Partners Exploited and led up a track to McIvorville Greg Hannan
Kidnapping Lazar’s dogs Ian Lazar and Police complaints
Extortion
Corporate intrigue
Big banks Gaining secured positions ahead of existing investor interests National Bank, Commonwealth and Bank of Scotland
Legal actions Class actions by Piper Alderman Amanda Banton
Tricking the banks Westpac - MM Holdings guarantees Westpac
Corporate trickery Back door with Jimmy Byrnes to back EIF units into some screwed up German based entity - depriving investors of any rights to damages Jimmy Byrnes, Ian Lazar
Abuse of Parliament Naming of Lazar and subsequent retraction in Hansard Senator Williams and Hanzard
Dodgy lending practices Inflated valuations and fees Tim James and Wayne McIvor will spill the beans
Dodgy accounting practices Want a nice set of figures? You got ‘em Sid Super
Dysfunctional Board Finish up leading the charge with ASIC and in Courts Craig ‘Sunken’ Treasure, John ‘oh my’ God-dard, David ‘Tuck in’ Tucker, David ‘Klink (I see nuthink)’ Kennedy’ Stacey ‘Cry baby’ McIvor
Borrowers Who all have a story to tell of fees, transfers, private deals ASIC, Lazar, Huxley, Raptis, Quinliven, McCart, Roberts…. Where do we stop
Pick a number? Run a quiz show off the side - guessing the final loss. We all say final payout will be nil.
Plundering the pot The bullsh-t sub-ordinated unit scam - now you see it, now you don’t. An accounting allusion that enables good old Marky boy to keep sucking the marrow from the bone well into 2011. Accounts. Sid Super, speak to anyone who understands double-entry accounting.
Auditors Conflicts galore Same as MFS et anors
Failed management Failed MFS execs join ‘Mad dog’ in one last ditched stand Kennedy and David ‘Angry’ Anderson - google these guys and ‘MFS’ – and sing to the tune of ‘The Way we were’.
Some laughable inserts Down load the library of corporate PDS and Mein Fuhrer rants…
Indiginous issues the lations, the bruvvas the smoke cereomony and the 'lunch' where Madamoiselle Stacey does her meltown.