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ASIC moves to install receiver at Equititrust

ASIC moves to install receiver at Equititrust
Colin Kruger
Sydney Morning Herald
November 22

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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-...#ixzz1eMV9rYnb
 

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LANDSOLVE TRUST MUTUAL GUARDIAN CAPITAL all dillusional brands of Mad Madoff McIvor

take a look at www.equititrust.com.au or serached 'equititrust' on this web site before contemplating any business with any of these outfits

If in any doubt, call the regulator ASIC.
 
Court Appointed Receiver

ASIC has appointed receivers to Equititrust via action in the Supreme Court. Landsolve was a division of Equititrust which failed miserably in protecting asset values.

As Kostag points out above the court has made Equititrust publish the affidavits and orders on its website. The most compelling Affidavit is of Paul Vincent on the 18th of November where a letter from Piper Alderman Lawyers was exhibited outlining its 100M plus claim against Equititrust and its directors.

Compelling reading below:

http://www.equititrust.com.au/Pdfs/Notifications/20111118/Affidavit_Paul_Vincent_sworn_18112011.pdf
 
Any Activity Anywhere

:mad:Is Landsolve attempting to do any business anywhere at the moment that anyone is aware of ?
 
:-(Did landsolve have any other business interests outside of managing impaired loans for Equititrust...
 
Receivers being Appointed Left Right and Centre

With receivers being appointed to Equititrust's two income funds by ASIC, and receivers being appointed to MM Holdings associated with Mark McIvor by Westpac Bank it seems that there is NO LAND TO SOLVE.

If you go back to the start of this thread and the proposed 200M Capital Raising announced by McIvor you will see it was a lot of hot air and as predicted in this thread amounted to nothing... McIvor's announcements throughout 2011 amounted to nothing except further misery and losses to innocent retiree investors in the Equititrust Income Funds... The company as reported in the press was effectively at war with itself and had both funds taken away and receivers appointed via court action by ASIC and former directors...
 
What has happened to Landsolve... Has it now become LandDisolve...

With receivers being appointed left right and centre it just may be the case...
 
Landsolve was a joke and waste of investors money

Click on the link below to see how Landsolve actually solved nothing. With $167M in write downs to June 30 2011 and more losses to come it is clear that Landsolve was a smoke screen to hide impairments on highly toxic assets and whilst this was going on Equititrust rewarded investors by siphoning off management fees in the millions of dollars. This is now a National Scandal of epic proportions with innocent retiree investors thrown on the scrap heap by Equititrust.

http://www.indaily.com.au/ipad/?iid=59291#folio=001
 
If McIvor thinks Landsolve will save him he's madder than we all thought...

Even after being paid, Ian Maurice found it hard to swallow in those delusional videos...
McIvor's constipated performance was classic, blah, blah, blah we have a guy in China rubbish... Before McIvor made Ian Maurice take it down from You Tube it was my most favourite link to send to ASIC and the Media. I'm sure they had a good laugh as well...

Who is this guy you have in China Marky come on tell us another tale for a laugh...
 
Boy oh boy Marky has got himself into some serious trouble... What do the coming days and weeks hold in store for him... Not even a smoking ceremony will get him out of this mess...


May he live in "interesting times"

Goodbye Mark.............................................. .............
 
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