Wellington Capital PIF/Octaviar (MFS) PIF
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Re: Octaviar MFS Premium Income Fund PIF
I am a share holder in that company I wish some one would ask me to join the class action group /Dane //
Re: Octaviar MFS Premium Income Fund PIF
Hi The Mint Man
another articles
http://www.moneymanagement.com.au/Articles/Octaviar-faces-class-proceedings_0c0598d1.html
http://www.news.com.au/heraldsun/story/0,21985,24239602-664,00.html
http://www.goldcoast.com.au/article/2008/08/23/15442_gold-coast-business.html
Wolfgang
Hi The Mint Man
another articles
http://www.moneymanagement.com.au/Articles/Octaviar-faces-class-proceedings_0c0598d1.html
http://www.news.com.au/heraldsun/story/0,21985,24239602-664,00.html
http://www.goldcoast.com.au/article/2008/08/23/15442_gold-coast-business.html
Wolfgang
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Re: Octaviar MFS Premium Income Fund PIF
I believe it is being funded by listed litigation funder IMF (Australia)
To join in you needed to have bought your shares after around Aug 07 or something like that.
Hi people,
This popped up in the news section in comsec yesterday, however it is quite vague.... can anyone shead a bit more light on this one???
who is leading the class action???
Cheers
I believe it is being funded by listed litigation funder IMF (Australia)
To join in you needed to have bought your shares after around Aug 07 or something like that.
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Re: Octaviar MFS Premium Income Fund PIF
Thanks for that Duped Been in touch with IMF they are sending out some info for me /Dane ///
Re: Octaviar MFS Premium Income Fund PIF
Hi! Doranboots, the reason you wont get a reply via e/mail is because, then you have the answer in writting, which this woman will never do as it could come back and bite her on the%$# cheers Flatback
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Re: Octaviar MFS Premium Income Fund PIF
Yes Jadel that is correct.
I spoke at length with a Class-action lawyer at Maurice Blackburn yesterday, and as yet, they have received no instructions from IMF.
IMF are offering info-packs from there web site, one of which I have ordered, and so has Great Dame, as a method of collecting facts on how much interest from Shareholders will be generated, towards their funding an action. Due dilligence as to the probability of finding any money to sue for, is IMF's current task, and MB said unless this can be a simple suit, it just wont be worth the effort, as most of the money would go in various searches and expenses. For instance, it will take a crate of C4 to get Phil Adams out of his hidey-hole in Dubai, and the paper trail as to who actually owns the Brisbane Polo Empire used by Michael King, will no doubt be costly.
So, I guess we will just have to wait in hope,... but we're very used to just chewing our cud now.
One strange thing though, MB said that they have had far more enquiries from PIF unit holders, than MFS/OCV Shareholders.
Cheers to all.
Yes Jadel that is correct.
I spoke at length with a Class-action lawyer at Maurice Blackburn yesterday, and as yet, they have received no instructions from IMF.
IMF are offering info-packs from there web site, one of which I have ordered, and so has Great Dame, as a method of collecting facts on how much interest from Shareholders will be generated, towards their funding an action. Due dilligence as to the probability of finding any money to sue for, is IMF's current task, and MB said unless this can be a simple suit, it just wont be worth the effort, as most of the money would go in various searches and expenses. For instance, it will take a crate of C4 to get Phil Adams out of his hidey-hole in Dubai, and the paper trail as to who actually owns the Brisbane Polo Empire used by Michael King, will no doubt be costly.
So, I guess we will just have to wait in hope,... but we're very used to just chewing our cud now.
One strange thing though, MB said that they have had far more enquiries from PIF unit holders, than MFS/OCV Shareholders.
Cheers to all.
Re: Octaviar MFS Premium Income Fund PIF
A few thoughts.
PIF unit holders would be hard pressed taking legal action as we have not officially lost anything at this time.
I had a look at the action on the NSX today, there was very little. Some shares have not changed hands since Dec 2007 and a number of shares had a lot of sellers but no buyers at any price.
The proposed buy back should be prorata accross the lot. The proposed scheme disadvantages the holders of more than 10000 units.
For the WC believers what will you give me for 75000 PIF units?
A few thoughts.
PIF unit holders would be hard pressed taking legal action as we have not officially lost anything at this time.
I had a look at the action on the NSX today, there was very little. Some shares have not changed hands since Dec 2007 and a number of shares had a lot of sellers but no buyers at any price.
The proposed buy back should be prorata accross the lot. The proposed scheme disadvantages the holders of more than 10000 units.
For the WC believers what will you give me for 75000 PIF units?
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Re: Octaviar MFS Premium Income Fund PIF
Hello Sugar3157,
It was $20 mil option agreement with Octaviar for management rights to PIF. Exercised by WC on 9/6/08. 6 other entities were "considered"
See bottom half of page 3, July 08 Q & A booklet on information forums.
I think that may help.
Hello Sugar3157,
It was $20 mil option agreement with Octaviar for management rights to PIF. Exercised by WC on 9/6/08. 6 other entities were "considered"
See bottom half of page 3, July 08 Q & A booklet on information forums.
I think that may help.
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Re: Octaviar MFS Premium Income Fund PIF
Good morning 2 centsWorth I got my Info/Pack from IMF by E/Mail this morning Bloody Hell i need to be a bit of a lawerr to work it out might have to give IMF a ring to find how i get on the list Cheers /Dane ///
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Re: Octaviar MFS Premium Income Fund PIF
SMOKEY To cheer me up some times i say i still have two legs Two arms Can still see & i am not in a wheel chair This sometimes helps for about 5 Mt /Dane ///
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Re: Octaviar MFS Premium Income Fund PIF
Should read 5 mts above Also i get a lot of help from Johnny too ///Dane
Should read 5 mts above Also i get a lot of help from Johnny too ///Dane
Re: Octaviar MFS Premium Income Fund PIF
Hi Breaker1,
It is good to hear that you are getting advice from a "very good friend who's a real estate agent" who recommended real estate - "I can see where 'the real estate agent' coming from and predictable".
"got control of your money" is when you invest into gold. Silver, etc.????
It does not matter where we invest our money others are really in control – Commodity prices, the economy, the government, the tax office, inflation, the tenant (from hell), company directors, fund managers, employees etc..
I know that I am predictable - in fact most people are and as we all know nothing is easy and we all make mistakes. We all need to consider a very wide variety of things when we are investing our hard earned money. Good advisers are predictable because we try to consider all options.
ASSETS - Cash, fixed interest, real estate and shares also to consider Direct or Listed or even managed funds (listed or un-listed).
TAXATION (Personal, Joint, Company, Trust or Super) but the primary rule is to spread your risk, plan and budget.
Unfortunately, I believe that the only time we really have control of our money is when we are holding it in our hands and we are considering whether to buy something or not to buy something.
Regards, RickH:couch
Hi Breaker1,
It is good to hear that you are getting advice from a "very good friend who's a real estate agent" who recommended real estate - "I can see where 'the real estate agent' coming from and predictable".
"got control of your money" is when you invest into gold. Silver, etc.????
It does not matter where we invest our money others are really in control – Commodity prices, the economy, the government, the tax office, inflation, the tenant (from hell), company directors, fund managers, employees etc..
I know that I am predictable - in fact most people are and as we all know nothing is easy and we all make mistakes. We all need to consider a very wide variety of things when we are investing our hard earned money. Good advisers are predictable because we try to consider all options.
ASSETS - Cash, fixed interest, real estate and shares also to consider Direct or Listed or even managed funds (listed or un-listed).
TAXATION (Personal, Joint, Company, Trust or Super) but the primary rule is to spread your risk, plan and budget.
Unfortunately, I believe that the only time we really have control of our money is when we are holding it in our hands and we are considering whether to buy something or not to buy something.
Regards, RickH:couch
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Re: Octaviar MFS Premium Income Fund PIF
Your on the money there Rick what you say i agree Sad that i droped my guard And DH me came & bought PIF AS the saying goes There is no fool like an old fool PS i am not realy that old either /Dane ///
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Re: Octaviar MFS Premium Income Fund PIF
Mint Man I have sent you a private message /Dane ///
Mint Man I have sent you a private message /Dane ///
Re: Octaviar MFS Premium Income Fund PIF
Hi to all,
My first post on this forum and catching up on events to date and have not read all the posts to date.
I am a substantial unit holder in PIF. Just wondering if anyone has sought/suggested obtaining professional advice in relation to our treatment/voting of the three resolutions as we may compromise/worsen our position and outcomes. I am not familiar with anyone on here and there may be some professionals amongst us that are already looking at the matters in question thus no offense meant.
I would appreciate further details
Thanks
like2ski
Hi to all,
My first post on this forum and catching up on events to date and have not read all the posts to date.
I am a substantial unit holder in PIF. Just wondering if anyone has sought/suggested obtaining professional advice in relation to our treatment/voting of the three resolutions as we may compromise/worsen our position and outcomes. I am not familiar with anyone on here and there may be some professionals amongst us that are already looking at the matters in question thus no offense meant.
I would appreciate further details
Thanks
like2ski
Re: PIF vote
Hi all, very concerned at the confusion being generated by WC over voting procedures. Is this intentional or are they as stupid as they appear to be ???
Apart from the misleading, unsubstantiated, limited and threatening info supplied by them, the voting procedures and form supplied is very badly put together. It would seem that you have to appoint a proxy and you have to submit your vote via post or email. If you don't read and correctly interpret every word on the voting form, you could very easily invalidate your vote - how cunning - or are they really stupid. I've seen Scouts organise themselves better than this. How did these people come to control a multi million dollar investment fund ???????
Tip 1. If your unit holding is in the name of a company I suggest you download the ""Certificate of Appointment of Corporate Representative" form from Computershare. Go to www.computershare.com.au then log into Investor Centre. Then at the left of the screen under "Manage" click on downloadable forms. Go down to corporate forms and you will see it there. Had to phone Computershare to work it out (more on that phone call next). If you want to attend the meeting on Sept.18 you must have one of these forms filled out and I would also suggest attaching it to your voting form just to be sure that your vote is considered valid.
Tip 2. I called WC today to ask whether unit holders can place their vote at the meeting on Sept.18 (I actually said "Sept.11" how funny !!!). The girl said yes that unitholders are entitled to do this, however they need to register your attendance at the meeting and you register by ticking the voting form and sending it to them. I said "but I don't want to sent my form in, I WANT TO VOTE AT THE MEETING. "Oh" she said, "well um.........". I suggested that I tick the box on the form to say I will be attending the meeting, but leave my voting choices blank and fax it to them with my details. She said "yeah that's a good idea". These people are a constant source of amusement.
Tip 3. Each form is barcoded and identifiable. More on this next.
By the way, my suggestion is VOTE NO, NO, NO.
Hi all, very concerned at the confusion being generated by WC over voting procedures. Is this intentional or are they as stupid as they appear to be ???
Apart from the misleading, unsubstantiated, limited and threatening info supplied by them, the voting procedures and form supplied is very badly put together. It would seem that you have to appoint a proxy and you have to submit your vote via post or email. If you don't read and correctly interpret every word on the voting form, you could very easily invalidate your vote - how cunning - or are they really stupid. I've seen Scouts organise themselves better than this. How did these people come to control a multi million dollar investment fund ???????
Tip 1. If your unit holding is in the name of a company I suggest you download the ""Certificate of Appointment of Corporate Representative" form from Computershare. Go to www.computershare.com.au then log into Investor Centre. Then at the left of the screen under "Manage" click on downloadable forms. Go down to corporate forms and you will see it there. Had to phone Computershare to work it out (more on that phone call next). If you want to attend the meeting on Sept.18 you must have one of these forms filled out and I would also suggest attaching it to your voting form just to be sure that your vote is considered valid.
Tip 2. I called WC today to ask whether unit holders can place their vote at the meeting on Sept.18 (I actually said "Sept.11" how funny !!!). The girl said yes that unitholders are entitled to do this, however they need to register your attendance at the meeting and you register by ticking the voting form and sending it to them. I said "but I don't want to sent my form in, I WANT TO VOTE AT THE MEETING. "Oh" she said, "well um.........". I suggested that I tick the box on the form to say I will be attending the meeting, but leave my voting choices blank and fax it to them with my details. She said "yeah that's a good idea". These people are a constant source of amusement.
Tip 3. Each form is barcoded and identifiable. More on this next.
By the way, my suggestion is VOTE NO, NO, NO.
