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Equititrust?

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Financials Financials

Where are the Financials Equititrust... Why weren't they finalised at the end of the financial year... Equititrust espoused all the talent on the new board and yet this bunch of so called experts could not meet their statutory obligations and complete the end of year financials...

THERE IS MORE TO THIS THAN MEETS THE EYE... NEARLY 7 MONTHS OVERDUE AND COUNTING.. What lurks behind these figures ???
 
Office Building has gone whats next ?

The Equititrust office buidling has fallen into the hands of receivers, whats next ??? Some personal holdings such as the homes on Cronin Island ??

The "smoke ceremony" seems to have been nothing more than a "smoke screen". When people are desperate they will resort to anything... Even smoke ceremonies...:horse:



With the banks issuing default notices left right and centre it looks like some of these luxury piles might be next on the chopping block...

Anyone for a game of domino's...
 
When you look back over this BLOG

altough there is much tragedy and disaster and what I suspect is much worse to come - there are so many side splitting things - someone just has to write a book - why not get Paul Barry onto it.... there is so much good juicy material - and the humorous bits - the smoke ceremony, the attempts to de-rail this website using a range of false characters etc
 
KORDA MENTHA appointed by WESTPAC

these guys are heavy hitters and it will be a 'take no prisoners' approach....

 
Re: When you look back over this BLOG

What about the McIvor videos with Ian Maurice... Now that was not only delusional but beyond hilarious... Remember the comment about their man in China... Was McIvor referring to the local Chinese Delivery Guy... Imagine the temerity in making these delusional commercials whilst Equititrust Financials were left to languish... Idiotic isn't it and a mark of how Equititrust was run just before it hit the rocks. McIvor's role as the Captain of the ship is analogous to the recent shipping diaster in Italy. He abandoned the ship after it had hit the rocks and left the innocent passengers/investors to go down with the ship. Why did he abandon the ship in June ??? Why did he allow the financials
to remain uncompleted??? There is no denying he abandoned the ship and the affidavits of former directors like Kennedy and Tucker point to some serious issues. There is a lot more to this saga than meets the eye. Like who stalled the completion of the financials... Surely this subject was openly discussed at board meetings. Where are the minutes of those meetings, where are the emails between the directors relating to the financials??? All if this will come out in the near future as legal action is commenced by the receivers. Do not be surprised if David Whyte has to commence legal action against the former management...


 
Disclosure Statements

Equititrust is obliged under the Corporations Law to issue Continuous Disclosure Statements, however as the news from Equititrust goes from Bad to Worse to downright Pathetic a whole new category has been opened up for Equititrust; from now on the Statements will be called Continuous Disaster Statements.

Good to see the ol Captain back on board once the ship has well and truly gone down... Pity the captain hasn't got a license to commandeer any other ghost ships... At least we have ASIC to thank for that... :flush:
 
last reported recovery was down to $80Million

with new actions now underway - expect that figure to further halve......
 
CONTINUOUS DISASTER STATEMENT NUMBER 1

expect announcement of further loan impairment of apporx $35M any day - a whole raft of execs will be lined up on this - documentation not checked .... loss $35M PLUS
 
Re: Disclosure Statements


There are many still raising funds who have had their licence taken off them previously - they just use another name
 
Re: CONTINUOUS DISASTER STATEMENT NUMBER 1

If this eventuates, there won't be much left after the receivers have had their feed... It just keeps on getting worse day by day.

kostag said:
expect announcement of further loan impairment of apporx $35M any day - a whole raft of execs will be lined up on this - documentation not checked .... loss $35M PLUS
Click to expand...
 
Legal Action

What is happening on the recovery front... It seems all legal actions have stalled... Has Tucker handed over the files to the receiver ??? Legal action against defaulting borrowers seems to be as big a mess as Equititrust itself...
 
Re: CONTINUOUS DISASTER STATEMENT NUMBER 1 update

I think that after Receiver; Administrator costs; on-going overheads; interest costs etc..... that the best position will be NIL for unit holders.

This is my private calculation. This forum is about acting as an open forum for all parties with a genuine public interest to share and explore....

anyone want to suggest any alternate 'numbers'....



No Trust said:
If this eventuates, there won't be much left after the receivers have had their feed... It just keeps on getting worse day by day.
Click to expand...
 
Due Date

Despite having its FSL cancelled as a result of non completion of the end of year financials Equititrust has still not completed them. In the update below the 23rd of January was given as the date the long overdue financials would be finalised...

Well its the 23rd and where are they ??? Don't hold your breath waiting for anything but disasters from this lot...

TOTAL DISGRACE


https://www.aussiestockforums.com/forums/newreply.php?p=681512&noquote=1
 
Been reading the forum for some time. Guess we are all going around in circles with no real information coming from anyone in control. Is there anyone in control? In any case looks like everyone is accepting that our investment is gone. Does anyone know anything about the class action and if they have enough participants to go ahead? Giving it some thought! Anyone?
 
No Information

This seems to be the general consensus all round... Who is actually in control of the clean up of this "Train Wreck" ??


 

The class action is proceeding at present. The best place for information is Piper Alderman. Their details have been posted earlier in this thread.
 
Piper Alderman - Amanda Banton

Piper Alderman are the only ones doing anything on behalf of investors... McIvor certainly isn't doing a thing... Don't be surprised if he joins the class action himself
 
Public Stocks

McIvor advocated the reintroduction of Public Stocks for those who mismanaged investors funds in a previous Annual Review... Isn't he due for a session in the stocks soon... Investors gather your rotten fruit and vegetables...
 
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