I too will be unale to attend and want to wish good luck at the meeting. I will be following the thread from the moment the meeting starts, so if somehow we can get updates as to the progress of the meetings, it would be great.
M
Towbar We too are unable to be at the EGM, Due to our remoteness & financial problems,We send our best wishes to the PIFAG,& Hopefully some one at the meeting
will keep us unit holders on this forum, informed of the progress of the meeting.
THIS NEED/S TO BE HANDED TO ALL POOR UNINFORMED PEOPLE @ MEETINGYES THEY ARE READEYA little history of what happened prior and following the Balmain Trilogy expulsion of City Pacific from the First Mortgage Fund in July 2009 - this demonstrates the lenghts that pigs will go to keep their head in the trough!
http://www.balmaintrilogy.com.au/news_300609.aspx
30 June 2009
WEB UPDATE
City Pacific seeks to frustrate unit holders
We can confirm that a notice has been lodged with ASIC under the Corporations Act requiring the regulator to register Trilogy as the new responsible entity of the City Pacific First Mortgage Fund.
We can also confirm that:
Before the unitholders meeting last Thursday (June 25), City Pacific applied to the Federal Court for an injunction to prevent the meeting from occurring. This failed.
At the meeting, and following the appointment of a unitholder as Chairman, the unitholders overwhelmingly carried a resolution to remove City Pacific as responsible entity and appoint Trilogy in its place. Computershare calculated that more than 87% of units voted at the meeting were voted in favour of the resolution.
We believe that City Pacific has no interest in listening to the members that it allegedly represents indeed, the day after the meeting, City Pacific again instituted Court proceedings for summary judgment to invalidate the meeting. This again failed.
City Pacific also sought an injunction to prevent Trilogy from lodging a notice of change of responsible entity with ASIC in order to delay its removal. This also failed.
City Pacific further sought that the hearing of the matter occurs in late August. From this action we can only assume that City Pacific wishes to remain as responsible entity for the interim period, which in effect would enable it to continue charging fees well beyond that which Trilogy has agreed to charge and use Fund assets to pay for the litigation.
The Court has not been prepared to let this matter wait and required lodgment of City Pacific's amended statement of claim by July 3 before a directions hearing on July 6.
BalmainTrilogy is concerned that the overwhelming, clearly stated and valid demands of the members, as evidenced by their vote, to replace City Pacific is being frustrated by City Pacific desperately trying to delay its inevitable removal.
It is clearly a matter of great discomfort to the majority of unitholders that City Pacific is prepared to disregard the unitholders best interests and bring court action after court action, at the expense of members to overturn the clear wishes of the members.
Note that the law firm acting for City Pacific to frustrate investors replacing them was none other than McCoulough Robertson JH's partners law firm. Yes and they are at it again!!!
Many of us unable to travel will be thinking of you all in Sydney today for the meeting. Best wishes to PIFAG, all investors and Forum posters for the best possible result.
Can anyone keep us all, hanging on the Forum, up to date on the proceedings. cheers Bumblbee
Thank you Atlas 1950.
This is fabulous!!...Or meeting in Sydney updates coming via New York!!!
So far so good you say. Good attendance numbers. Lets hope they are waving the right coloured flag (not RED).
Reckon there are lots of folk, like me, hanging on this thread for any information.
Thanks again Atlas 1950...keep it coming.
My contact, who is at the meeting right now, is emailing me live updates. I am in New York,and as I get emails I will post them immediately to let people now what is happening.
First comment is there is a huge turnout.
So far, so good. Will post as I get more info.
M
We are all on the same team. We have all suffered the same pain with Jenny.
Waiting anxiously for my next email, and will post it immediately.
m
I'm asking unitholders and AG members to Please Question everything you read via the NSX!
Jenny Hutson was invited to sit in at the beginning of the meeting and refused. She did not confront unitholders, Nor did she address Investors and unitholders at the end of the meeting as she had earlier advised and relayed to the chairman as PROMISED.
Numerous phonecalls were made during the meeting asking ms JH to attend and she somehow became unavailable to contact.
Her Staff were advised and somehow they also became unavailable and they all vanished
I dont know how she was locked in a room perhaps she mistakenly locked herself in another room because she had been sought out by many people attending.
The nsx report may need some SERIOUS clarification as to numerous statements.
My daughter who was attending went out and in a few times as did people who had to use the bathroom and waited patiently for hours waiting for ms hutson to attend... plainly she had other places to be.
MAJORITY OF UNITHOLDERS waited until were asked to leave by the venue when the room was required for another function.
Keep reading this forum -
But looking at the numbers on the NSX statement it looks like we have lost! Nothing is on the Castleraigh website.[/QUOTE
Isn't there TWO registries being used?: Armstrong & Computershare - doesn't the NSX announcement only cover one of them, the one held by Armstrong?
Seems like some lessons on how to improve one's chances in a show of hands at a meeting have been taught today.
What an extraordinary day for those who attended - I'm sure there'll be many stories to tell.
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