Wellington Capital PIF/Octaviar (MFS) PIF

[simgrund]

This is a truly uplifting story to share around.

http://www.smh.com.au/national/stun...geing-thalidomide-victims-20100728-10vus.html

Of special note is the fact that the payment negotiated was voluntary; to show a "goodwill gesture".

PIF needs plenty of this from the controlling entities.
We will be ever so grateful.

Regards,

 

[seamisty]

Section 254K of the corporations act states that redeemable preference shares can only be redeemed out by
- winding up the company
- out of profits
- through a new issue of shares

So if they are planning to return the money from the sale of property this will not be profits but capital so do they plan to break the law to return investors own money.

Not a fan of WC but this seems like out of the frypan into the furnace

Hi Gardie, hope you are well. I believe ASIC are well informed of this along with many other PIF related issues. I just hope they give it the attention it deserves sooner rather than later!! Great to see you still have interest in PIF related issues and appreciate your input. Plus it demonstrates there are not just unit holders following and supporting this thread. Former 'interested parties' are more than welcome to contribute!!! If Wellington Capital were to follow this thread (we might have voted for them but we aint all together braindead!!)they would
not be happy to see that we are all alive and well and united in our efforts to work towards a better outcome for what remains of our WC managed assets(WC stands for WELL CHEWED) Cheers, Seamisty

 

[seamisty]

It appears as though this very fuzzy science(Enneagramm) has got a real hold on the thoughts of many in our group at the moment,quite unnecessarily i feel, from what i can gather this group will really have no bearing upon the outcome of our case against these criminals,we must put our faith with Carneys and trust that we will survive with a few bob in our pockets at the end of all of this.

Where do we draw the line flatback? Are you happy to see Caroline Snow, Associate Director of WELLINGTON CAPITAL(please check out her credentials http://www.wellcap.com.au/personnel/carolinesnow.htm)l ::negotiating the purchase of a redundant church on behalf of 'the enneagram factor' at the expense of WELLINGTON CAPITAL for the direct benefit of David Burke not detrimental or something that PIF investors should not be made aware of??? Do you not feel that this is relevant information to PIF investors?

Seamisty

 

[lawry1dog]

Please can everyone send a complaint to ASIC today and also to any
politician you can.

You can use the reason/s for the complaint.
1. an investor not being satisfied with the level of their investment’s performance;
2. not receiving a distribution cheque on time;

The link to use is:-
http://www.asic.gov.au/asic/asic.nsf...g+us#complaint

I know I have sent this before. I need some outlet to my 2 years of frustration.
Maybe if there is an avalanche of complaints, then ASIC might do something.


Cheers.
Lawry1dog

 

[seamisty]

BARELY THERE

The subsidiary of the shell of the former lingerie company advised by the banned company director Jim Byrnes has reported a surge of acceptances for its scrip takeover bid for the former MFS-managed Premium Income Fund.

ALF Group (aka Can Can Lingerie) revealed on Tuesday that its subsidiary ALF PIF Finance Limited had snared another 0.01 per cent of the Newcastle Stock Exchange-listed mortgage fund.

The group now holds a 0.17 per cent stake. At this rate, ALF PIF should be able to reach its required 90 per cent of acceptances by early 2038.

http://www.smh.com.au/business/alesco-has-a-lend-of-its-former-boss-20100728-10w4r.html

 

[seamisty]

Nigel Benjamin Elias and Jenny Hutson are both substantial shareholders and directors of Armstrong Registry Services

Nigel Benjamin Elias and Armstrong Registry Services Limited are both substantial shareholders in Print Mail Logistics.

Jenny Hutson is corporate adviser to Print Mail Logistics Limited.


Nigel Benjamin Elias is Managing Director Print Mail Logistics
Anthony Richard Lewis was a former director of Print Mail Logistics and was removed at a general meeting of shareholders on November
28, 2008

Nigel Benjamin Elias and Anthony Richard Lewis were both directors of Lewis Securities involved in the Orion takeover bid involving unacceptable circumstances (another longwinded saga).
It appears Nigel Elias forgot to mention this prior directorship in his Print Mail Logistics Directors Declaration in Nov 2009 and finally disclosed it in an announcement to the NSX on 28th June 2010. (I wonder if his corporate advisor picked up the omission?)


Anyway, I tripped over this interesting article today, while it is not directly PIF related it just further demonstrates the callibre of unethical people lurking in the shadows!! Cheers Seamisty

http://www.smh.com.au/national/nephew-accused-of-theft-from-estate-20100719-10hzk.html

 

[selciper]

BARELY THERE

The subsidiary of the shell of the former lingerie company advised by the banned company director Jim Byrnes has reported a surge of acceptances for its scrip takeover bid for the former MFS-managed Premium Income Fund.

ALF Group (aka Can Can Lingerie) revealed on Tuesday that its subsidiary ALF PIF Finance Limited had snared another 0.01 per cent of the Newcastle Stock Exchange-listed mortgage fund.

The group now holds a 0.17 per cent stake. At this rate, ALF PIF should be able to reach its required 90 per cent of acceptances by early 2038.

http://www.smh.com.au/business/alesco-has-a-lend-of-its-former-boss-20100728-10w4r.html

Yes, and it will be 2038 before there is any PIF distribution by WC. It is absolutely essential that WC be held to account for non-performance before we enter another nightmare of a year.

 

[Dexter]

We have lodge yet another complaint to ASIC against W.C.

I suggest if we do not receive a worthwhile response from ASIC, we should muster support for a compensation claim against ASIC for their dereliction of duty.

We do not require a bevy of expensive lawyers and barristors.

THE PEOPLE V's ASIC.! We have ample evidence to state our case before a judge.

The threat of such a public hearing might be sufficient to stir them into action.

Your thoughts?

Dexter

 

[DepressedDad]

The revelation of the 'lining each others pockets' scenario is sickeningly making a lot of sense as I have always wondered how a self respecting top dog - 'business woman of the year' no less, and her supposedly well respected professionals could not have done ONE action in all these years where the Unit holders have said 'well done, what a great job you did with that one, good result, wow what a win'. NOT ONE. We've all shared that same frustration! We should have got up from the first blow not just be struck again.

I kept wondering where is their self respect not to achieve some great results here & be seen to be working incredibly hard! Don't we all want to succeed to the BEST of our abilities given a task, especially a really challenging one? Obviously not, if they've got alteria motives driven by greed, & the arrogance to dismiss the dumb old Unit holders who won't put 2 plus 2 together.

This very minute red coat is no doubt working incredibly hard to ching ching cash from the child care centres and doing NO WORK ever for 'us'. It's becoming increasingly obvious by the day, thanks to sherlock seamisty that the 'us' she's been scheming, I mean working for, ISN'T the Unit holders.

Worse than neglect, it's now appearing that that 'us' has worked extremely hard to make sure we all end up with nothing. Imagine where we'd be now if we'd been put in the hands of one honest unencumbered cult-free no-mates professional who REALLY did work hard to save & grow the funds assets & rebuild.

Yep, your findings are making a whole lot of sense to me sea misty. How else could any professionals perform so badly, so consistently, for so long? There's simply no other explanation...That was always perplexing and now sadly, the real truth of the dishonesty and deception is emerging.

 

[seamisty]

Nigel Benjamin Elias and Jenny Hutson are both substantial shareholders and directors of Armstrong Registry Services

Nigel Benjamin Elias and Armstrong Registry Services Limited are both substantial shareholders in Print Mail Logistics.

Jenny Hutson is corporate adviser to Print Mail Logistics Limited.


Nigel Benjamin Elias is Managing Director Print Mail Logistics
Anthony Richard Lewis was a former director of Print Mail Logistics and was removed at a general meeting of shareholders on November
28, 2008

Nigel Benjamin Elias and Anthony Richard Lewis were both directors of Lewis Securities involved in the Orion takeover bid involving unacceptable circumstances (another longwinded saga).
It appears Nigel Elias forgot to mention this prior directorship in his Print Mail Logistics Directors Declaration in Nov 2009 and finally disclosed it in an announcement to the NSX on 28th June 2010. (I wonder if his corporate advisor picked up the omission?)


Anyway, I tripped over this interesting article today, while it is not directly PIF related it just further demonstrates the callibre of unethical people lurking in the shadows!! Cheers Seamisty

http://www.smh.com.au/national/nephew-accused-of-theft-from-estate-20100719-10hzk.html

A bit more on Print Mail Logistics and the nominated adviser::
http://www.nsxa.com.au/ftp/news/021722201.PDF
l, Jennifer Joan Hutson, being a responsible officer of the above Nominated Adviser, hereby
confirm;
a) that, in relation to the application for admission:
i) the directors of the issuer have received advice and guidance (from this firm or otherappropriate professional advisers) as to the nature of their responsibilities and obligations to ensure compliance by the issuer with the Rules of the National StockExchange of Australia Limited as amended from time to time.
ii) To the best of my knowledge and belief, all relevant requirements of the National Stock Exchange of Australia Listing Rules have been complied with; and
b) While this firm is engaged as the Nominated Adviser of the issuer it will be available during business hours to advise and guide the directors of the issuer as to their responsibilities and obligations to ensure compliance by the issuer on an ongoing basis with theExchange's Rules;
c) That this firm will comply with the Exchange's Rules applicable to it in its role as nominated
adviser;and
d) That this firm will confirm to the Exchange in writing when it ceases to be the issuer's
nominated adviser.
Responsible Officer, for and on behalf of Name of nominated adviser:Signed J Hutson Wellington Capital Limited ACN 1 14248 458


So who is responsible for Nigel Elias failing to declare a prior directorship in another company, Lewis Securities that had been placed into liquidation after revealing debts of $31.3 million? Mr Elias resigned the directorship 31st January 2008

The company (Lewis Securities)entered into administration in October 2008
http://www.moneymanagement.com.au/article/Lewis-Securities-in-liquidation/468314.aspx

This NSX announcement issued on 19th Nov 2009, signed by Nigel Benjamin Elias on the 13th August 2008:;http://www.nsxa.com.au/ftp/news/021722204.PDF

No corporation has been put into compulsory liquidation or had an administrator or receiver appointed during the period when I was (or within the preceding twelve months had been) one of its directors, alternate directors or compliance committee members. Nor has any partnership been put into compulsory liquidation or been sequestrated during the period when I was (or within the preceding twelve months had been) one of its partners.

Umnn, have I got this wrong or does that come into the 12 month time frame?

This is the same Nigel Benjamin Elias who is a director of Armstrong Registry Services that is handling all of PIF registry details!!

MARCOM WHERE ARE YOU????

Just as a point of interest Print Mail Logistics listed on the NSX has had just 6 trades in 8 months.

Seamisty

 

[seamisty]

I see Bentleys have finally updated their website:
http://www.bentleys.com.au/creditor...essionid=43c73e0d-8278-4e88-ad5e-b22115ff2d38

 

[flatback]

Where do we draw the line flatback? Are you happy to see Caroline Snow, Associate Director of WELLINGTON CAPITAL(please check out her credentials http://www.wellcap.com.au/personnel/carolinesnow.htm)l ::negotiating the purchase of a redundant church on behalf of 'the enneagram factor' at the expense of WELLINGTON CAPITAL for the direct benefit of David Burke not detrimental or something that PIF investors should not be made aware of??? Do you not feel that this is relevant information to PIF investors?

Seamisty

Seamisty! i am very happy to debate on a level playing field with you, but this can not be so, when it is obvious that you need to have the last word on every discussion you have with people on this forum, I was simply trying to get my point across that the courts wont give a rats ---- about who is buying and selling churches and who is attached to an Enneagramm organisation or not , the courts will only debate the issues of the PAST in regard to the criminal activities of these people, shorely you also have proven with your ongoing research, that these leeches have moved on from their initial indiscretions, their lawyers and barristers are being paid to worry about the problems and legal matters related to their MFS and Oct incompetance ,and are now applying their dirty skills in other directions, Seamisty these people are leopards they dont change their spots, you can dig up all of the dirt on these people you like , but i can assure you it will have NO bearing upon our case (our justic system can only work with indiscretions of the past) you may be able to gather this information for a civil action later but not much of it in my view will cast to many aspertions upon the leeches, as it is not relevent, looking forward to hearing more about the case actually.

 

[Cookie1]

A bit more on Print Mail Logistics and the nominated adviser::
http://www.nsxa.com.au/ftp/news/021722201.PDF

"This NSX announcement issued on 19th Nov 2009, signed by Nigel Benjamin Elias on the 13th August 2008:;http://www.nsxa.com.au/ftp/news/021722204.PDF

No corporation has been put into compulsory liquidation or had an administrator or receiver appointed during the period when I was (or within the preceding twelve months had been) one of its directors, alternate directors or compliance committee members. Nor has any partnership been put into compulsory liquidation or been sequestrated during the period when I was (or within the preceding twelve months had been) one of its partners.

Umnn, have I got this wrong or does that come into the 12 month time frame?

This is the same Nigel Benjamin Elias who is a director of Armstrong Registry Services that is handling all of PIF registry details!!

MARCOM WHERE ARE YOU????

Just as a point of interest Print Mail Logistics listed on the NSX has had just 6 trades in 8 months.

Seamisty

Seamisty,

Great sleuth work from you!

I think the Nov 2009 date is just a few days outside the 12 month period of the October 2008 date; very clever that they waited until the 12 months was just past. What else would we expect from this mob? It makes me sick to my stomach.

Cookie1

 

[selciper]

Flatback -

I guess you know this Chinese proverb: “Know thy self, know thy enemy. A thousand battles, a thousand victories.”

 

[seamisty]

Seamisty! i am very happy to debate on a level playing field with you, but this can not be so, when it is obvious that you need to have the last word on every discussion you have with people on this forum, I was simply trying to get my point across that the courts wont give a rats ---- about who is buying and selling churches and who is attached to an Enneagramm organisation or not , the courts will only debate the issues of the PAST in regard to the criminal activities of these people, shorely you also have proven with your ongoing research, that these leeches have moved on from their initial indiscretions, their lawyers and barristers are being paid to worry about the problems and legal matters related to their MFS and Oct incompetance ,and are now applying their dirty skills in other directions, Seamisty these people are leopards they dont change their spots, you can dig up all of the dirt on these people you like , but i can assure you it will have NO bearing upon our case (our justic system can only work with indiscretions of the past) you may be able to gather this information for a civil action later but not much of it in my view will cast to many aspertions upon the leeches, as it is not relevent, looking forward to hearing more about the case actually.

flatback at the risk of being accused of having the last word again,(have you been talking to my husband?) there are many PIF investors who are extremely interested in all things PIF related/connected. The courts may not give a rats about issues/information posted on here but fortunately this forum/thread was never intended for the purpose of posting only selected items of interest to suit individual preferences. I quite often make posts merely to keep the thread from dying of boredom because it is extremely important to not only keep PIF investors interested, but to support Aussie stock forums whose existance relies on sponsers. Apart from that I take my research very seriously and make the information available to the lawyers on request and anyone else interested. Straight and narrow posts may suit some but there are others the same as me who like to be part of the bigger picture. You may be interested to know that the Commonwealth courts portal has been updated in relation to the CA.
Seamisty

 

[flatback]

flatback at the risk of being accused of having the last word again,(have you been talking to my husband?) there are many PIF investors who are extremely interested in all things PIF related/connected. The courts may not give a rats about issues/information posted on here but fortunately this forum/thread was never intended for the purpose of posting only selected items of interest to suit individual preferences. I quite often make posts merely to keep the thread from dying of boredom because it is extremely important to not only keep PIF investors interested, but to support Aussie stock forums whose existance relies on sponsers. Apart from that I take my research very seriously and make the information available to the lawyers on request and anyone else interested. Straight and narrow posts may suit some but there are others the same as me who like to be part of the bigger picture. You may be interested to know that the Commonwealth courts portal has been updated in relation to the CA.
Seamisty

this is a double bunger reply so here goes, Sel i also know the Chinese have been over run by most nations over many centurys which if you think about it doesnt make them the smartest country in the world (proverbs are after all just that proverbs) seamisty i have as you know and you have responded in kind, via a post to me, appreciate the dilligent research that you do which is in the main related to our problem, so ,to all who may read this, i am not attacking seamisty for some of the good work she is doing, but find it very difficult to understand why she has so many negative thoughts, maybe i shall impose on her the enneagramm number of eight , please accept this in the tone it is intended , i close my case

 

[seamisty]

http://www.mondaq.com/australia/article.asp?articleid=106692

In early January 2010, ASIC arrested and charged three directors of Opes Prime Stockbroking Limited (OPSL) and Opes Prime Group Limited (OPGL) over their roles in the collapse of the failed stockbroking group.

The group was placed into receivership in March 2008 with over 650 clients and creditors owed approximately $630 million. A Scheme of Arrangement has been approved for creditors.

The three directors are Laurie Emini, Julian Smith and Anthony Blumberg. Each has been charged with offences for breaches of their duties as directors of both OPSL and OPGL. The Commonwealth Director of Public Prosecutions is prosecuting the directors on behalf of ASIC.

ASIC alleges that shortly before the collapse of the group the directors signed financial documents with financiers to obtain a loan for OPSL and OPGL and pledged the companies' assets as security to meet the obligations of a third group company and in doing so they:

were intentionally dishonest and failed to exercise their powers and discharge their duties in good faith and in the best interests of the companies, and
used their positions with the intention of gaining an advantage for themselves or someone else.
Each offence at (1) and (2) above carries a maximum penalty of five years' imprisonment.

The directors appeared in Melbourne Magistrates Court on 28 May 2010 and are scheduled to appear again on 28 February 2011 for a pre-trial committal hearing. It is estimated that the hearing may take three to four weeks.

 

[flatback]

http://www.mondaq.com/australia/article.asp?articleid=106692

In early January 2010, ASIC arrested and charged three directors of Opes Prime Stockbroking Limited (OPSL) and Opes Prime Group Limited (OPGL) over their roles in the collapse of the failed stockbroking group.

The group was placed into receivership in March 2008 with over 650 clients and creditors owed approximately $630 million. A Scheme of Arrangement has been approved for creditors.

The three directors are Laurie Emini, Julian Smith and Anthony Blumberg. Each has been charged with offences for breaches of their duties as directors of both OPSL and OPGL. The Commonwealth Director of Public Prosecutions is prosecuting the directors on behalf of ASIC.

ASIC alleges that shortly before the collapse of the group the directors signed financial documents with financiers to obtain a loan for OPSL and OPGL and pledged the companies' assets as security to meet the obligations of a third group company and in doing so they:

were intentionally dishonest and failed to exercise their powers and discharge their duties in good faith and in the best interests of the companies, and
used their positions with the intention of gaining an advantage for themselves or someone else.
Each offence at (1) and (2) above carries a maximum penalty of five years' imprisonment.

The directors appeared in Melbourne Magistrates Court on 28 May 2010 and are scheduled to appear again on 28 February 2011 for a pre-trial committal hearing. It is estimated that the hearing may take three to four weeks.

now this is very good research, the likeness to our issue is uncanny

 

[DepressedDad]

No doubt like so many others, I don't like to post on here because I do not understand a lot of the gobbledygook & feel as if I have nothing to contribute compared to the wisdom of others.

But I must say here that I REALLY APPRECIATE all others who do keep information flowing and of course the main researcher & information sharer is sea misty. And I enjoy ALL her posts, related to our specific case or not. And I disagree with you flatback that information such as that pertaining to 'improper acquaintances employing each other' isn't relevant to our case as I believe it is, plus hopefully these weasels will one day face criminal charges and all information against them will be relevant to that ends, whether or not it is related to our case.

As for saying it's not a level playing field, with someone getting 'a last word', how does anyone get a 'last word' on a forum where anybody & everybody can say whatever they like, when ever they like? In fact responding to posts is what it's all about. I said 'ouch' out loud when I read that accusation as not only is it silly & untrue but the thought of anyone writing such a personal criticism against our brave & tireless & knowledgable researcher just because she shares a lot had me pretty irritated. We have real enemies out there who are spending/hiding/shuffling/& writing off our money as we speak so please can we see no bickering between ourselves.

And sea misty please don't think for a nanosecond, others aren't interested in all your thoughts & post post post away. I, for one, love to read all the information you dig up on everything & everybody. And the humour filtering in through what would otherwise be very sobering reading always brings a smile to my face! Keep it coming!!

 

[flatback]

No doubt like so many others, I don't like to post on here because I do not understand a lot of the gobbledygook & feel as if I have nothing to contribute compared to the wisdom of others.

But I must say here that I REALLY APPRECIATE all others who do keep information flowing and of course the main researcher & information sharer is sea misty. And I enjoy ALL her posts, related to our specific case or not. And I disagree with you flatback that information such as that pertaining to 'improper acquaintances employing each other' isn't relevant to our case as I believe it is, plus hopefully these weasels will one day face criminal charges and all information against them will be relevant to that ends, whether or not it is related to our case.

As for saying it's not a level playing field, with someone getting 'a last word', how does anyone get a 'last word' on a forum where anybody & everybody can say whatever they like, when ever they like? In fact responding to posts is what it's all about. I said 'ouch' out loud when I read that accusation as not only is it silly & untrue but the thought of anyone writing such a personal criticism against our brave & tireless & knowledgable researcher just because she shares a lot had me pretty irritated. We have real enemies out there who are spending/hiding/shuffling/& writing off our money as we speak so please can we see no bickering between ourselves.

And sea misty please don't think for a nanosecond, others aren't interested in all your thoughts & post post post away. I, for one, love to read all the information you dig up on everything & everybody. And the humour filtering in through what would otherwise be very sobering reading always brings a smile to my face! Keep it coming!!

it seams to me that you may very well be her dad with your withering and fawning comments about me , you obviously didnt read my post very well,and grasp the content or the substance of the writings, for somebody who has just joined the group please dont cast aspertions about me without reading all of my posts,i HAVE never as your wonderful seamisty has, ever agreed to the removal of clauses from our constitution, this is fact, look at all previous posts, i never wanted JH as our RE at all, i had tried to get enough people to understand that we could have stood alone hiring our own RE because at the time we were still very liquid ,as i said in the previous post i am not i repeat not attacking anybody via this forum, but if you think i am going to sit and take such non constructive ramblings from somebody who obviously hasnt done their home work and is not able to simply understand the gravity of our situation, my answer to you is get a life.