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Wellington Capital PIF/Octaviar (MFS) PIF

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While we are doing the court rounds:

In the Federal Court - Mercedes Holdings Pty Ltd ACN 086 169 422 & Ors v Andrea Jane Waters & Ors

21-Nov-2011 Notice of Acting - Appointment of Lawyer Mark Robert Hodges
15-Nov-2011 Affidavit Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422

Charles, you may know something about this.

And in relation to the PIF AG case:

Wellington Capital Limited ACN 114 248 458 as Responsible Entity of the Premium Income Fund ARSN 090 687 577 v Premium Income Fund Action Group Incorporated (NSW Incorporated Association No. 9894759) & Ors
Application Listed There are no further details on this application.
 
Hi Cookie 1, your link is the correct one. Mine seems to have been corrupted (a tterm familiar to us) through the processes. Sorry about that.
selciper
 
From that article, almost parallel to our Auditor saga.

Equititrust's fate was sealed this month when the company revealed it was unlikely to find an insurer to cover it for professional indemnity, and any possible fraud by its officers, beyond 4pm yesterday. A lack of insurance would have prevented Equititrust from continuing to act as responsible entity for the fund. The company did not return calls yesterday but it is understood its board resigned en masse after the insurance expired.

Read more: http://www.smh.com.au/business/asic...equititrust-20111121-1nr04.html#ixzz1ePCGHpF2
Click to expand...

Best wishes to long suffering ET brethren

Regards
 
marcom said:
While we are doing the court rounds:

In the Federal Court - Mercedes Holdings Pty Ltd ACN 086 169 422 & Ors v Andrea Jane Waters & Ors

21-Nov-2011 Notice of Acting - Appointment of Lawyer Mark Robert Hodges
15-Nov-2011 Affidavit Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422
15-Nov-2011 Notice of Ceasing to Act Mercedes Holdings Pty Ltd Acn 086 169 422

Charles, you may know something about this.

And in relation to the PIF AG case:

Wellington Capital Limited ACN 114 248 458 as Responsible Entity of the Premium Income Fund ARSN 090 687 577 v Premium Income Fund Action Group Incorporated (NSW Incorporated Association No. 9894759) & Ors
Application Listed There are no further details on this application.
Click to expand...

It is a long story but Class Action members will be informed shortly. There has been a change of Solicitors. Ceasing to act is the formal notification to the Court by HWL Ebsworths. So far as Mark Hodges, Lawyer is concerned this is only a temporary measure and he certainly does not act as a lawyer for the Class Action. He is the trustee of my Super Fund and as such is an applicant in the Class Action proceedings. I assume the Wellington Capital v/c PIFAG relates to costs from previous Court hearings. Regards Charles
 
charles36 said:
It is a long story but Class Action members will be informed shortly. There has been a change of Solicitors. Ceasing to act is the formal notification to the Court by HWL Ebsworths. So far as Mark Hodges, Lawyer is concerned this is only a temporary measure and he certainly does not act as a lawyer for the Class Action. He is the trustee of my Super Fund and as such is an applicant in the Class Action proceedings. I assume the Wellington Capital v/c PIFAG relates to costs from previous Court hearings. Regards Charles
Click to expand...


I was getting a little worried about how close WC and JH are to HWL Ebsworths - their role at the WC's recent roadshows is of particular concern. Frankly,I think that we could do a lot worse than Mark as our class action solicitor - frankly it would be very reassuring to have a solicitor who is on our side for a change and has some personal commitment to the case.
 
marcom said:
I was getting a little worried about how close WC and JH are to HWL Ebsworths - their role at the WC's recent roadshows is of particular concern. Frankly,I think that we could do a lot worse than Mark as our class action solicitor - frankly it would be very reassuring to have a solicitor who is on our side for a change and has some personal commitment to the case.
Click to expand...

This would be the last straw if Class Action Team were to be infested with Enneagramists.
Cheers, :confused:
 
FAUX ASIC ALERT

Surely not. The Australian Securities and Investments Commission has issued a warning that there could be fraudsters among us, pretending to be ASIC officers.

The corporate watchdog warned the scam also included the use of fake ASIC stationery. ''The letter or email requests upfront payment and copies of personal documents in exchange for access to a substantial overseas inheritance,'' it explained.

The corporate cop even managed to handball the problem to another federal agency. ''Consumers who receive a request to transfer money in exchange for an inheritance, lottery win or other large windfall should treat it as a scam and report it to the ACCC,'' ASIC commissioner Peter Kell said in a statement.

''We are warning consumers about this fake correspondence as ASIC never contacts the public requesting upfront payment in such circumstances,'' he said.

However, CBD has some sure-fire ways to quickly detect whether any messages purporting to be from ASIC are genuine or not.

One method includes firing off a response email. If you get a message back within a week, it may not be ASIC. Another could include calling any supposed ASIC officer at 8.59am or 5.01pm. If the phone answers, you may have a problem.

Read more: http://www.smh.com.au/business/bour...ed-delivery-20111122-1nsx5.html#ixzz1eTNrsPq0
 
simgrund said:
This would be the last straw if Class Action Team were to be infested with Enneagramists.
Cheers, :confused:
Click to expand...
Whatever the reasons - and they obviously must be sound - let's wish that the process is not prolonged. And, let's remember, IMF is not a free service. If we win, they will charge each of us about 35 per cent.
 
Selciper,

Just to correct you a little, if we win, we don't get billed individually, IMF gets there 35% from whatever award is given to us. If we lose, IMF don't get paid at all, and we as individuals, won't get stuck with a large legal bill.

We started with Carneys, then went to HWL Ebsworths,now there appears to be another problem somewhere. Is our case collapsing.?????

Still waiting from Bentleys to distribute some of our funds, which they said they would by the end on October. Does anyone have any thoughts or updates.

Michael
 
atlas950 - Well, I think that 35 per cent is 35 per cent. Wherever the sum is derived from, I'm paying if we win. I simply would like IMF to communicate more often. I do share your concerns about the status of the CA. Surely changing solicitors again isn't a good omen for the CA. On the other hand all the preliminaries may now be complete...who knows? The Bentleys delay is also a puzzle.
 
selciper said:
atlas950 - Well, I think that 35 per cent is 35 per cent. Wherever the sum is derived from, I'm paying if we win. I simply would like IMF to communicate more often. I do share your concerns about the status of the CA. Surely changing solicitors again isn't a good omen for the CA. On the other hand all the preliminaries may now be complete...who knows? The Bentleys delay is also a puzzle.
Click to expand...

There is a change of company but the practising Solicitor remains the same. No doubt further information will be forthcoming in the near future. For all intents and purposes it is believed the Class Action is proceeding, albeit a bit slow, but there is nothing anyone can do about that. Cheers Charles 36.
 
More on Equity Trust:

MUSICAL CHAIRS

The revolving door that is the board of the floundering Gold Coast financial concern Equititrust has now seen 14 director resignations, appointments and reappointments since June.

Barely a month after swearing in a new chief executive and a new board, Equititrust this week saw another board resign just as the company's indemnity insurance policy expired.

Luckily, Equititrust founder Mark McIvor has rejoined the board after a five-month break, with his wife Stacey also becoming a director.

The next Equititrust board change could happen as soon as tomorrow with the Sydney businessman Ian Lazar applying to the courts to have a liquidator appointed.

Read more: http://www.smh.com.au/business/exot...-bank-daddy-20111123-1nuzb.html#ixzz1eZlwGOcR
 
New Lawyers appointed for Class Action

http://www.nsxa.com.au/ftp/news/021724646.PDF

Premium Income Fund
NSX Release: 24 November 2011

Litigation Update – Class Action – New South Wales Federal Court Proceedings
NSD324/2009 Wellington Capital Limited as responsible entity of the Premium Income Fund has been advised that HWL Ebsworth Lawyers have ceased to act as the lawyers for the applicants in the Premium Income Fund class action, which is proceeding NSD324/2009 in the New South Wales Federal Court.

Johnson Winter & Slattery Lawyers of Sydney have been appointed the lawyers for the Applicants.

The parties to the Class Action are awaiting judgement from His Honour Justice Perram in relation to the Notice of Motions heard before him in July 2011. A date for the delivery of His Honour’s decision has not yet been set.

Further updates will be provided as the matter progresses.
 
Things continue to move on the Brisbane Supreme Court case 12122/09 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION -V- MANAGED INVESTMENTS LIMITED & others:

25/11/2011 Application Striking Out - Statement Of Claim Submitted by Respondent

25/11/2011 Affidavit W Herrmann WH1 Solicitor for Respondent

The respondent is not named but you can bet it is a stalling tactic by King and/or White.
 
More movement on the ASIC case yesterday:

25/11/2011 Application Directions Respondent
25/11/2011 Application Striking Out - Statement Of Claim Respondent
25/11/2011 Affidavit B T COHEN EXH A Respondent

Just more stalling action - roll on 12/12.
 

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