Storm Financial Group

[bunyip]

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-

Employees of the banks or Storm were working on behalf of that particular organisation at the time. Therefore any action or prosecution would be against the organisation, rather than against the individual employed by them.
Highly unlikely that you'd have any claim for getting money from an individual who worked for the company, even if they did something wrong or illegal.

 

[maccka]

Thanks for the links, Solly.

I find this comment by Damian Scattini interesting:


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

Hello Julia,

Firstly, Damien Scattini did not gather the investors together at the meetings, SICAG called the meetings. He was an invited guest.

Having seen a video of one of the meetings that Damien attended (Margate) I can state that he definitely has NOT promised a class action. In fact, he made it VERY clear that a class action might not be possible. He outlined that class actions do not happen as far as Qld courts are concerned and that class actions (for Qlders) are something that happen in Federal court.

He explained that with everyone having such different circumstances (eg banks, circumstances going in and coming out etc) that a "class action" may not be appropriate/possible.

He talked about class actions, representative actions and individual actions etc as possibilities depending on what information comes out when they look at everyone's situations.

On the question of costs, he said (please forgive my punctuation):

"At this point, we will charge you nothing.

There will be no obligation either way. We'll investigate this thing.

And if it comes to the point where we say "we can't help you" then we won't charge you anything for that.

Now if we run all the way to the end of the case and we get you a good result, we'll charge you and we'll charge you heaps.

Because we have to and that's the fact."

He warned against litigating if people asked their heart and the answer was to the effect of "When I went into this deal, I understood the risks - my house was at risk, this was dangerous advice but I was prepared to take that risk because of the up-side."

He said "you need to think about that because it's a very important thing."

Damien came across as extremely sincere and made no promises of class actions. He explained the possible costs at different stages of a possible legal campaign quite clearly and indicated no costs would be incurred by clients until they entered into an agreement.

Cheers
Maccka

 

[Glen48]

I see yet more crash's Great Southern, Kleenmaid owing millions when will it stop or some Gov. body act?
Wonder how long until the next one?

 

[Solly]

I see yet more crash's Great Southern, Kleenmaid owing millions when will it stop or some Gov. body act?
Wonder how long until the next one?

Glen, here's an article from the SMH by Jacob Saulwick and Ruth Williams;

Job well done, government tells ASIC

"THE Federal Government is standing by the performance of its corporate regulators, despite almost 200,000 investors losing, or being locked out of, about $30 billion in savings."

 

[Solly]

Does anybody know what has happened to the "crusade" ?

As per the media release of 30 Jan 09.....

"I have said over and over again that my crusade is now to find justice for these clients, and I will continue that crusade until my dying breath,'' said Emmanuel Cassimatis. "We're not going anywhere.''

"We seek him here, we seek him there............."

 

[bunyip]

Does anybody know what has happened to the "crusade" ?

As per the media release of 30 Jan 09.....

"I have said over and over again that my crusade is now to find justice for these clients, and I will continue that crusade until my dying breath,'' said Emmanuel Cassimatis. "We're not going anywhere.''

"We seek him here, we seek him there............."

Manny's 'crusade' was, as some of us pointed out at the time, nothing more than hot air....big talk from a man of small character.

Feathering his own nest has always been his main priority, with the interests of his clients running a very poor second.

 

[Garpal Gumnut]

Manny's 'crusade' was, as some of us pointed out at the time, nothing more than hot air....big talk from a man of small character.

Feathering his own nest has always been his main priority, with the interests of his clients running a very poor second.

Unlike the crusades of old I think Manny took a wrong turn and is fighting mossies in the Gabon.

gg

 

[Julia]

Hello Julia,

Firstly, Damien Scattini did not gather the investors together at the meetings, SICAG called the meetings. He was an invited guest......

Maccka, thank you for setting the record straight on this, and my apologies for what has been a wrongly drawn conclusion from remarks made by various contributors to this thread about what their expectations were from Slater and Gordon.

 

[The_Bman]

Here is one way to get 60 cents in the dollar:

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

 

[Solly]

Here is one way to get 60 cents in the dollar:

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

Noticed again there's some rather interesting Period Furniture, Reproduction Furniture, Artworks & Figurines.

Can't wait to see the full catalogue when it becomes available on 21/5/2009.


http://www.graysonline.com.au/sale.asp?SALE_ID=70931


I'm just wondering what items gg will score for 9 bucks.
Might even just get a glimpse of him when he backs up the Diamond T and loads up his winnings on the flatbed tray.

 

[maccka]

Maccka, thank you for setting the record straight on this, and my apologies for what has been a wrongly drawn conclusion from remarks made by various contributors to this thread about what their expectations were from Slater and Gordon.

You are welcome. Glad to be of help.

Thank you for your apology.

 

[Julia]

Maccka, I would, however, suggest that several Stormified clients are definitely under the impression that Mr Scattini represents their personal saviour.
Thus my assumption that he must have promised , um, 'justice'.

 

[maccka]

Maccka, I would, however, suggest that several Stormified clients are definitely under the impression that Mr Scattini represents their personal saviour.
Thus my assumption that he must have promised , um, 'justice'.

Hi Julia,

I have watched it again since your comment and I can tell you that on the video he doesn't promise justice. He does indicate that they (S&G) will investigate it carefully. I think that this is why people see him so positively.

I suspect that part of the respect that Mr Scattini garners with some ex-Storm clients may be due to the fact that he is one of the first people that showed a serious desire to help and an understanding of the pain that people were (are) suffering. He has a track record for getting to the truth of the matter and bringing the truth out into the open for all to see.

I don't get the feeling of people seeing Scattini as a personal saviour.

I believe he is seen as a very savvy man who really understands the mystical machinations of big business and finance. He is someone who can "Mix it with the big boys", see through deception or fuzzy distraction and not be put off by them, keep his eye on the big picture and his plan and come out the other side of a meeting with more answers (and another puzzle piece for "the picture") then when he went in.

I think that many of the ex-Storm clients probably look positively at most people prepared to look closely at what happened and everyone (including themselves) involved. From what I see, Ex-Storm clients want the real truth to come out as against the "truth" according to one institution or another and for many they see the parliamentary inquiry as the best vehicle they have to achieve this.

Cheers
maccka

 

[Solly]

Other quotes in the media from EC,

“I feel a huge moral responsibility. Our clients trusted us implicitly, we trusted the system, we trusted all the players in the system, we trusted the bank. It went horribly, horribly wrong,” (on the ABC)


“My finger points squarely at the Commonwealth Bank,” (on Channel 9)


Is there anybody anywhere that can give an update on the progress of the "crusade" or a snapshot of where the "Stomers" stand on recovering anything ?

 

[SJG1974]

Other quotes in the media from EC,

“I feel a huge moral responsibility. Our clients trusted us implicitly, we trusted the system, we trusted all the players in the system, we trusted the bank. It went horribly, horribly wrong,” (on the ABC)


“My finger points squarely at the Commonwealth Bank,” (on Channel 9)


Is there anybody anywhere that can give an update on the progress of the "crusade" or a snapshot of where the "Stomers" stand on recovering anything ?

I too would love an update on Manny's crusade and all of the work he is doing to bring those nasty banks who lost his clients' money to justice. He must be working around the clock considering no-one has seen him, and his informative internet site is still being updated with new content.

Perhaps Cereberus can assist here, but for some reason he seems to have gone to ground also....

 

[Solly]

I too would love an update on Manny's crusade and all of the work he is doing to bring those nasty banks who lost his clients' money to justice. He must be working around the clock considering no-one has seen him, and his informative internet site is still being updated with new content.

Perhaps Cereberus can assist here, but for some reason he seems to have gone to ground also....

Alas it has been another week and still no response or news from Cereberus. This to me is very dissapointing. So much promised but absolutely nothing delivered.

 

[Garpal Gumnut]

I was in the Great Northern Hotel last night and saw a group of southerners having a few beers.

One of them had a folder with ASIC written on it.

So I went over and had a chat about the footy, trying to have a sqizz at the folder. But I couldn't.

I asked them straight out were they up here about Storm.

I don't know if they were bankers or ASIC.

They all then left. There woulld have been 10 or so of them, pasty looking fellows who've seen little sunlight.

Anyone seen Manny in Townsville?

I'll be eating out down Palmer St. tonight so will keep an eye out for ASIC , Bankers and / or Manny.

Something is up, something big.

gg

 

[Solly]

Something is up, something big.

gg

Methinks you could just be on the money,
gg....

 

[carey ramm]

GG - i think u are very much on the money!!!

I think the regulators are taking the storm saga very seriously and have been interviewing a range of people - this from todays paper...

http://www.townsvillebulletin.com.au/article/2009/05/21/54551_hpnews.html

 

[Garpal Gumnut]

I was in the Great Northern Hotel last night and saw a group of southerners having a few beers.

One of them had a folder with ASIC written on it.

So I went over and had a chat about the footy, trying to have a sqizz at the folder. But I couldn't.

I asked them straight out were they up here about Storm.

I don't know if they were bankers or ASIC.

They all then left. There woulld have been 10 or so of them, pasty looking fellows who've seen little sunlight.

Anyone seen Manny in Townsville?

I'll be eating out down Palmer St. tonight so will keep an eye out for ASIC , Bankers and / or Manny.

Something is up, something big.

gg

Methinks you could just be on the money,
gg....

GG - i think u are very much on the money!!!

I think the regulators are taking the storm saga very seriously and have been interviewing a range of people - this from todays paper...

http://www.townsvillebulletin.com.au/article/2009/05/21/54551_hpnews.html

Thanks guys,

I only got my copy of the Bully just now, and its all in there.

A few of my lads are doing some work down Sturt St. today so I'll post you on any events or movements.

gg