Storm Financial Group

[-Bevo-]

I do some voluntary work for a charity in Townsvile, and I dropped a client off at Centrelink on Ross River Rd.today.

He was sure he saw Manny and Julie getting a fast track in to a room at the back.

The bloke has some sort of an illness so I don't know how reliable the info is.

He volunteered the info without any comment from me, he was as surprised as me.

It gets stranger and straanger.

gg

If that turned out to be true it would indeed be strange although he might be seeking some financial counseling , happen to have a chat with a uncle who used to live here the other day, he worked in finance manny years ago and was offered a job buy EC when he was only a small operation he declined the offer because he said EC was a crook back then, I guess people never change.
Theres been mention that incomes were overstated but Uncle believes what happened is they add the projected incomes from the investments into the applications for margins or something to that effect, Sir Osisofliver would probably have a better idea.

 

[Solly]

I do some voluntary work for a charity in Townsvile, and I dropped a client off at Centrelink on Ross River Rd.today.

He was sure he saw Manny and Julie getting a fast track in to a room at the back.

The bloke has some sort of an illness so I don't know how reliable the info is.

He volunteered the info without any comment from me, he was as surprised as me.

It gets stranger and straanger.

gg

Well gg, Centrelink do offer a service called "Supporting you in the global financial crisis"

If claiming a payment because of unemployment they will ask some questions about the claimants situation, such as:

• whether you have been made redundant or have left your job voluntarily
• details of any payouts you received when your job ended
• details of family circumstances, such as partners or dependants
• details of any savings or assets you might have

.
I believe it's open to anybody who meets the criteria for assistance.

For anyone that needs more details or assistance have a look at: http://www.centrelink.gov.au/internet/internet.nsf/individuals/global_financial_crisis.htm

 

[Kez180]

Well who signed the forms then?

So what you are saying, is that all erroneous forms were not signed by the clients, and that these forms are still unsigned?

Just go to your filing cabinet and get your photocopy out.

I am willing to believe that in a few cases loan applications were not signed...

I am NOT willing to believe that the bank let one cent go to a storm client without signatures on loan contracts and mortgage documents... Banks are not stupid, when **** hits the fan it is these two documents that matter...

Mash obviously didn't read the fine print let alone take a copy for himself...

 

[Solly]

"CBA to slash dividend"

"Mr Norris said he was comfortable with the provisions taken by CBA for its exposures to Storm Financial and Timbercorp"

See more here from SMH

http://www.news.com.au/heraldsun/story/0,21985,25472965-664,00.html

 

[Solly]

SUPREME AND DISTRICT COURTS BRISBANE

Thursday 14 May 2009

APPLICATIONS TO COURT
10:00 AM
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION -V- CASSIMATIS & others

 

[Garpal Gumnut]

SUPREME AND DISTRICT COURTS BRISBANE

Thursday 14 May 2009

APPLICATIONS TO COURT
10:00 AM
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION -V- CASSIMATIS & others

Perhaps somebody here could let SICAG.INFO know about this so that they could

INFORM THEIR MEMBERS

Manny and Julie seem like a no go area for SICAG.

Manny's site is still down.

But the SICAG's is up, so it may not matter.

gg

 

[Solly]

Originally Posted by Cereberus
Hi SJG1974,

A small addition to my original disclosure for clarity.

I should say I am/was close to all above mentioned parties over the past many years, but due to events in recent months I have not been in regular communication with any of the above parties for one reason or another depending on the party. Therefore, I am not a conduit to getting answers on current questions.

So to answer your second question in relation to the Cassimatis website, I do not know if or when the website will be reopened. If I had to guess, I would think that it would not be reopened anytime soon.

In relation to your very first query, my primary intent was firstly to simply warn those innocent readers and contributors of the potential dangers when accepting advice or opinions provided here as neutral and “helpful”. As we know, the internet, due to its seeming anonymity, is a haven for this sort of behaviour but it seemed exceptional when reading this thread.

As to your first query SJG1974, well my second priority was to do just as you suggest over the next few weeks. Stay tuned, I think you will be interested.

Cereberus, it's been yet another week
and we still haven't heard from you.

I still believe that there are still many who welcome your offer
to keep us informed and are eager to hear from you again.

Any updates for us?

 

[Solly]

I believe that things are now ramping up, as Carey stated the layers are beginning to fall away to expose some very interesting elements.

I'm sure many with be very interested with the direction that this saga is now taking.

Keep you eyes open and your ears peeled for further developments......

 

[bunyip]

So Mash, bank scum aside for the moment, did you in fact authorise Storm to act on your behalf?

I realise I am not as eloquent as yourself in this conversation, but you have yet to answer the question posed to you numerous times.

Mash, still waiting for your answer on this one.
You've been very vocal on this thread but I notice that you tend to lie low when you're faced with confronting questions.

 

[Solly]

"Mr Norris was grilled by analysts over the bank's exposure to borrowers who had lost money on investments owing to the collapse of Storm Financial."

More here by George Lekakis in the Herald Sun;

http://www.news.com.au/heraldsun/story/0,21985,25476054-664,00.html

 

[donteventryit]

Bump.

Sale Heading: Storm - IT, Audio Visual, Teleconferencing - Townsville Pick Up
Sale type: Online Auction
Under Instructions From: Mr Bill Buckby, Mr Robert Hutson & Mr David Winterbottom of KordaMentha
In Matter of: Storm Financial Limited (Receivers and Managers Appointed) (In Liquidation)
Sale Location: Online
Sale Start Date/Time: 21/05/2009 4:00 PM AEST
Sale End Date/Time: 25/05/2009 6:00 PM AEST

http://www.graysonline.com.au/sale.asp?SALE_ID=70932​

Catalogue available on: 21/5/2009 4:00:00 PM

 

[Garpal Gumnut]

I had a very interesting conversation with an elderly Greek gentleman , a bit of an identity in North Queensland with no past or present association with the finance industry, who was sitting beside me in business class.

He had many interesting things to say about the matters we have been discussing.

He also said that many Greeks still have great attachment to Greece and he in fact has many land holdings in Greece, in his own name and that of his family, he called it his "future land" , in case things ever went **** up in Queensland with his farms and businesses.

Much of what he said is unprintable, but I learnt a lot from him.

gg

 

[chrisgee]

I had a very interesting conversation with an elderly Greek gentleman , a bit of an identity in North Queensland with no past or present association with the finance industry, who was sitting beside me in business class.

He had many interesting things to say about the matters we have been discussing.

He also said that many Greeks still have great attachment to Greece and he in fact has many land holdings in Greece, in his own name and that of his family, he called it his "future land" , in case things ever went **** up in Queensland with his farms and businesses.

Much of what he said is unprintable, but I learnt a lot from him.

gg

good to see mr gg your travelling business class at least some can afford to fly in style or were you on the tilt train? I have met some greek people as well who are very attached to the old country-still give thier kids greek names call thier boats greek names. they are really nice great people one even went see mr c years ago when he was starting out but he did not go ahaed because he just felt it was too risky. this guy still has as a big house with a pool and drives great cars. maybe we sholud have asked him for advice instead. we havent joined sicag because not sure if will help at all. we will just keep working hard i suppose. does anybody know what the court thing was all about this week? will that help investers ? i dont really have much to say but thought i would check the site for any news. i think a lot of us are getting really tired and need a rest but we cant. hope everyone one has a great weekend i will have a few beers after i finish work tonight.
mr gg do you think mr c has land somewhere?

 

[Garpal Gumnut]

good to see mr gg your travelling business class at least some can afford to fly in style or were you on the tilt train? I have met some greek people as well who are very attached to the old country-still give thier kids greek names call thier boats greek names. they are really nice great people one even went see mr c years ago when he was starting out but he did not go ahaed because he just felt it was too risky. this guy still has as a big house with a pool and drives great cars. maybe we sholud have asked him for advice instead. we havent joined sicag because not sure if will help at all. we will just keep working hard i suppose. does anybody know what the court thing was all about this week? will that help investers ? i dont really have much to say but thought i would check the site for any news. i think a lot of us are getting really tired and need a rest but we cant. hope everyone one has a great weekend i will have a few beers after i finish work tonight.
mr gg do you think mr c has land somewhere?

sorry , some background.

It was on a flight from Brisbane to Townsville.

I try to travel business class as their is more chance of carking it in a crash at the front, as opposed to ending up in a nursing home if you are in the back with godbotherers and gideons visiting every second thursday for evermore with that jesuscreeping look they have, if you survive with hideous injuries.

Greeks are great people. But not all people are Greek. And not all Greeks are all nice people. I'm no philosopher , but after 3000 years I thinks thats a fair summation of all greek philosophy.

Working hard is good, its got me out of a few scrapes.

I'd normally recommend groups like sicag but they explicitely state on their site that some of the group are friends or agree with the Cassimatis doctrine.

Make your own mind up.

Even I could not state this elderly gentleman's opinion of Manny in a public forum.

gg

 

[bunyip]

i think a lot of us are getting really tired and need a rest but we cant. hope everyone one has a great weekend i will have a few beers after i finish work tonight.

Chris
Hang in there mate - you're not beaten until you give up.
There are many people on here (including those of us who have given you Stormers a serve when we thought it was justified) who feel much sympathy for you and your situation.
With perseverance and determination I'm sure you'll come through this crisis.
Hope you enjoy your beer....have one for me while you're at it.

 

[chrisgee]

Chris
Hang in there mate - you're not beaten until you give up.
There are many people on here (including those of us who have given you Stormers a serve when we thought it was justified) who feel much sympathy for you and your situation.
With perseverance and determination I'm sure you'll come through this crisis.
Hope you enjoy your beer....have one for me while you're at it.

thanks bunyip and mr gg for the replies-just thought one more thing i see where there could be some criminal activities in this mess-is there anyway that the courts/asicc can make any guilty people sell up the homes, properties etc ? if someone in a bank or storm is proven to have done somethimng criminal can they be forced to pay money to those they have caused grief to? or have i been watching to much yank tv shows? ive been speaking with a mate at work who reckons it goiung to be really hard to get any money back through the legal action-gee i hope he is wrong-

 

[Garpal Gumnut]

thanks bunyip and mr gg for the replies-just thought one more thing i see where there could be some criminal activities in this mess-is there anyway that the courts/asicc can make any guilty people sell up the homes, properties etc ? if someone in a bank or storm is proven to have done somethimng criminal can they be forced to pay money to those they have caused grief to? or have i been watching to much yank tv shows? ive been speaking with a mate at work who reckons it goiung to be really hard to get any money back through the legal action-gee i hope he is wrong-

Unfortunately Chris, you have Buckleys chance of ever getting money back from guilty parties in matters like this.

They often have to spend what they have on legal fees or on other fees associated with defending themselves.

Also they often have laundered money, transferred it to family members in the form of gifts, or put it into entities such as overseas trusts or superannuation which are safe from sequestration of debts.

Buying land and houses and gifting to family is a common ploy.

Read back over the scams of the last 30 years and you will find most of the guilty parties are still living in luxury.

gg

 

[Solly]

Storm damage

"Bernie Ripoll's inquiry into financial products and services in Australia has opened a window on to the personal financial tragedies caused by the collapse of Storm Financial."

See more from Tony Boyd in Business Spectator;

http://www.businessspectator.com.au/bs.nsf/Article/Leveraging-Storm---or-The-personal-tragedy-of-Stor-pd20090518-S5TRH

 

[Solly]

Got this link sent to me, it reports that

"The highest individual loss in Rockhampton is said to be $12 million"

How can this be?

Also see the rather sad statements form Debbie and Kevin Locke...

The article is here;

http://www.themorningbulletin.com.au/story/2009/02/24/shattered-victims-pledge-to-fight-on-after-storm-c/

 

[Julia]

Thanks for the links, Solly.

I find this comment by Damian Scattini interesting:

Brisbane lawyer Damian Scattini told the crowd the advice they were given from Storm was poor and the action of banks was “s**t house”.

He said it was too early to say if there would be a class action.

Wasn't he gathering the erstwhile investors together with the promise of a class action?
Hope they haven't paid him in advance.