- Joined
- 14 March 2012
- Posts
- 31
- Reactions
- 31
The liquidators are using the Equititrust liquidation as their own fee generating vehicle... Having squandered the $2M+ refund received from the taxation office, they now rely on fees from a litigation funder. Eg Tucker Litigation
Tucker deserves to have his ass sued off him but if it’s not going to result in a return to investors, then what’s the purpose other than to feed the liquidators fees... It’s time for them to front up to investors and give an update on whether any money will flow to them as a result of the litigation against Tucker...
I'm an Equititrust investor - historically, all has been good - bit I am hearing some disquieting developements - such as ex MFS execs David Kennedy and David Anderson (OMG!) now in charge - same auditors as MFS used - same business model - and even Royal Bank of Scotland loans outstanding/overdue. There was a press write up about a loan to Al Konstaninidis going bad etc - and a legal fight which involved Equititrust and David Kennedy. David Anderson's recent Court performance re MFS matters was less than flattering and one would need to question whether he ought be in charge of another Public fund. Anyone got any news on this? I saw on an ASIC search that long standing Director Wayne McIvor has resigned from Equititrust as well.... often a sign that things are not good.
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