Storm Financial Group

Solly said:

When matters are next in Court.

Proceedings are being held in public so anyone interested may attend.

1 March 2012
ASIC unregistered managed investment scheme proceedings
Federal Court, Brisbane
Justice Reeves
Level 7, Harry Gibbs Commonwealth Law Courts Building
119 North Quay

Source: https://storm.asic.gov.au/storm/storm.nsf/byheadline/Next Court Dates?opendocument

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Solly said:

Justice Reeves Court No. 7, Level 6

10:15 AM Directions

1 NSD811/2010 LESLIE JAMES SHERWOOD & ORS v COMMONWEALTH BANK OF AUSTRALIA & ANOR

2 QUD590/2010 TRACEY RICHARDS v MACQUARIE BANK LIMITED

Directions and Interlocutory Hearing

3 QUD577/2010 ASIC v STORM FINANCIAL LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) & ORS

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Mindstorm said:

I'm really looking forward to seeing, and finally meeting, all of the posters on this ASF thread at court tomorrow.

We stormies need all the support we can encourage...

Mindstorm

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Garpal Gumnut said:

Sorry mate,

I had a split-load to take to Bollon, via Prossie, Agnes and Caboolture, but the rain made me stay at home. I had planned to get my driver to park the doubleB in George St, and slip in to meet everyone.

Please fill me in on the day.

And

Is Solly balding?

gg

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Mindstorm said:

Sorry GG, no updates for those who stand in judgement who can't be @rsed to turn up and find out for themselves what's going on.

I will say that we turned up to find that our 'usual' court room is being renovated! So, a very small court allocated, and +/- sixty stormies turned up.

Many had to sit in the hallway. I was lucky enough to get there early enough to put my tag on a seat.

Those bank solicitors just love seeing all us stormies turn out for every hearing

Solly did not make himself known to us

MS

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Garpal Gumnut said:

Thanks Mindstorm,

Keep up the rage,it sounds as if you are on the front foot.

My best wishes for you, it is tiring, I did it myself as a young guy when similarly duped by my "betters".

Truth will out.

gg

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Mindstorm said:

Sorry GG, no updates for those who stand in judgement who can't be @rsed to turn up and find out for themselves what's going on.

I will say that we turned up to find that our 'usual' court room is being renovated! So, a very small court allocated, and +/- sixty stormies turned up.

Many had to sit in the hallway. I was lucky enough to get there early enough to put my tag on a seat.

Those bank solicitors just love seeing all us stormies turn out for every hearing

Solly did not make himself known to us

MS

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"FPA expels ex-Storm adviser
Five code of conduct breaches

The advice association has expelled yet another financial planner of failed advisory group, Storm Financial."

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"Banks push back at ASIC over Storm
Legal case progresses

Australian banks engaged with ASIC over Storm Financial legal action have failed in their push to have their case dismissed."

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Solly said:

Block out your Calendars

When matters are next in Court

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maccka said:

I'd love to be a fly on the wall in some of the mediation and other assorted meetings going on behind closed doors. I'd especially love to know what is being said in various meetings with one side only.

I wonder if I'd witness some of the 'magic oh #%$^' and 'party' :bananasmi moments that various legal teams experience.

I wonder if the legal teams of both sides are being/have been told everything in one hit at the beginning or if they are discovering information as the other side's legal team brings it to their attention. #whydidn'tyoutellmethatBEFOREwewentin!

cheers
Maccka

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Solly said:

Maccka
Suddenly this saga has become very very real and very very serious. I believe there will be more career casualties. Interesting times ahead.
S

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Mindstorm said:

Solly, with all due respect,

This saga has been very very real and very very serious for thousands of stormies for over three years now.

Personally I don't give a rat's a$$ about any career casualties there may be at the banks. I'm more concerned for the stormies who have had to cope while the banks hang back from taking some responsibility for what they did.

In my opinion, mediation, which has not failed.... it's just ongoing apparently, was never going to work.

In my opinion, the banks will try anything to delay settling with stormies.

I'd love to know what their legal bill is right now. I'm willing to bet that their final legal bill will be more than what they might have paid just offer the stormies a decent amount to enable the majority to have an easier retirement. That would have been less embarrassing for them.

I think that they're amazed that the court cases have come so far so maybe it's the banks who are in denial now. Maybe they thought that it would never come to a trial.

The trial date is set, and I don't think the banks can wriggle out of it. They can delay all they like in the lead up. But the date is set, and I think that there are going to be a lot of surprising facts that will be 'aired' once the trial begins.

I just hope the stormies last the time that it takes to see justice, whatever the outcome.

MS

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Garpal Gumnut said:

Gaol is the only suitable punishment for people who rip off the public for so many billions of dollars, as happened with Storm.

gg

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Solly said:

MS

How many actions of this nature ever go to trial ?
It would be interesting to seek Stewart's view on this aspect.
And yes, it is now totally game on.

S

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Garpal Gumnut said:

Gaol is the only suitable punishment for people who rip off the public for so many billions of dollars, as happened with Storm.

gg

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Garpal Gumnut said:

Gaol is the only suitable punishment for people who rip off the public for so many billions of dollars, as happened with Storm.

gg

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Mindstorm said:

GG, not sure I agree with you here.

I've never felt comfortable with the fact that people who steal money, bank robbers, embezzlers, etc, get more punitive gaol sentences than those who rob old people, (no reference intended to stormies here), rapists, murderers, the list of offenders is endless.....

For myself, I'm happy that my financial advisor was shamed in the community where he'd lived in his whole life. To me, there could be no worse punishment than that.

MS

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