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Equititrust?

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Its Valentines Day For Equititrust...

Was John Goddard "The Chairman" of Equititrust aware of the Sydney Morning Herald's revelations or is he just reading about it in the paper today like everyone else..

If he wasn’t fully informed, maybe the investors should inform him and ask him what going to happen to their money. In fact the investors should call all of the directors new and old and lobby them as to what the hell is going on.. They are all responsible...

These guys are getting fat salaries and what are the mostly retiree investors getting... Frozen funds for over 2 years and nightmare revelations in the papers of
35M of impairments in 6 months which were never disclosed prior to the suicidal 50M fund raising...

Why don't the Directors, Chairman and CEO announce a freeze in their salaries until this disaster is over.. Their performance over the last year was not worthy of any compensation whatsoever! You wont see such a noble gesture from Equititrust !!

The loading of the decks last year with new directors, extra staff and the establishment of Landsolve was a front to portray a false image of strength and stability; to top it off they also threw in an Arch on their Web Site for good measure... The Sydney Morning Herald found the arch quite comical.

This farce was at the expense of the investors.

It is no wonder the Interim Financial Results were not published and issued in tandem with the 50M PDS for new investors..
 
Re: Equititrust: call em - sure can: PUBLIC RELATIONS SPIN NOW IN OVERDRIVE


All this from Kostag who has clearly demonstrated that he will employ underhanded means (calling Equititrust on "the ruse of increased investment"), and actually lie (he has never sent a personal message before, after sending one to me a month or two beforehand), and constantly state wonky figures that do not add up and cannot be verified (as per numerous examples brought to his attention over the early course of this thread). Never one to waste time on explaining his inconsistencies when challenged, he then ridicules the bona-fides of anyone who dares to disagree with his outlandish views.

He mentions no names of people he spoke to in Equititrust. Considering his attacks on anyone he can identify that doesn't agree with his "views", I find this a bit strange, and considering his record of lies, inaccuracies and unfounded allegations, I certainly have my doubts as to whether this supposed communication with Equititrust actually happened.

Besides, if Kostag actually spoke to Equititrust in December, to imagine him keeping it to himself for any longer than a couple of nanoseconds defies belief.

Kostag's supposed investment in Equititrust is a matter of conjecture. He avoided any declaration of interest for a considerable time in the beginnings of this thread, despite being asked point-blank about it on several occasions, and now implies he has an investment is $1.2m or $1.5m (depending on which post one reads) while excitedly mis-typing his contributions. I gave him the benefit of the doubt at first, but my doubts have surely evaporated as time has passed and his true nature has emerged.

If Kostag is really an investor, why did he have to use a "ruse" to get information? Surely quoting his Equititrust investor number would have been sufficient?

The trouble with deceitful practices is that those who practice them end up seeing deceit as a normal course of events in daily life, and cannot themselves accept that others may be presenting themselves truthfully.

This thread has become a crazed rant by Kostag and No Trust with very little in the way of intelligent debate. I am concerned about my investment, as any investor would be, but other than the rare reference to a recent and relevant press release I find nothing of interest here. I don't wish to spend my life countering the absurdities expressed, and find the repetition tedious to the extreme. I can't imagine any sane person being sucked in by it.

I'm out of here. There are decent people I would rather relate to, and they are rare on the ground in this thread.
 
Re: Equititrust: call em - sure can: PUBLIC RELATIONS SPIN NOW IN OVERDRIVE

OLMAN from DARWIN (or is it Chevron Island) is clearly scrapping very low.

So I called Equititrust saying that I was looking at further investment - so what? I wanted to learn more information. Wouldn't you too OLMAN other than you probably already know, don't you. Secondly, I had not ever used , to my knowledge, what you referred to as the 'personal email' system however you pointed out that when I clicked onto your name and replied, that is what had occurred (I thought it was a general reply).

So what, I made a mistake because I didn't understand the technology. What turns on that? I emailed you twice, so you know - what did I gain?

Is this all you've got in the face of the litany of lies that Equititrust would now seem to be spinning us.

You're out of here? You were never here. I don't mind Equititrust putting positive spin on a troubled situation - so you've done your job well. However facing the groundswell of media reporting (who seem to be close to the money) and ASIC (Who I suspect are right on the money) - with Equititrust having to fess up to massive impairments whilst out trying to raise new money (why not recommend us to one of your friends? - hell, that would be a short lived friendship) , and only pulled up by urgent ASIC intervention - no redemptions, no accurate PDS statments or financials - the very very best that OLMAN with all his literary skills - the best he can is attack the man not the team. OLMAN: do you suggest that any of this summary of disasters is wrong?

I am very dissapointed at, and for one, wont miss your 'contribution' (or lack thereof) to the POSTING.

Just one single shred of factual current honest and accurate reporting from Equititrust could have avoided all of this.

We'll see, I guess.



 
Its Valentines Day For Equititrust...

Remember when Olman/ Equititrust said this only a few weeks ago:

Too late? I don't think so. I personally feel the unfamiliar stirrings of an uncharacteristic (for me) optimism about the future with Equititrust.

Unfamiliar stirrings?? Well maybe a check up is required.......

When it hits the fan Olman/Equititrust have nothing to say and as I predicted they did not call Equititrust or themselves rather, get an update on the delayed Financials and on the 3 Month Cash position and then post those answers on this thread. They have been exposed....

I notice Olman has no comments on today’s disastrous media revelations about Equititrust, too much to handle I guess. For some the truth is.... Bye Olman

PS Happy Valentine’s Day
 
Re: Equititrust. beware ides of march

Charlie Green said of MFS. You won't make Valentine's Day. Equititrust can't make March.
 
I have no interest in Equititrust, I just thought I might add something to the discussion. First of all after reading this thread I would wonder why anyone new would want to invest with them as there is a lot of negative publicity about them. A simple google search will highlight several web sites (including this one) and news stories about them. If I was to stumble across this thread by accident through such a search I would think they wouldn't be the kind of risk I would take on.

I am a victim of a similar type of organization which I might add was based in the Gold Coast originally too. Mine was called a "Safe and Secure" investment that specialised in first mortgages. It was all going well until out of the blue the business was on-sold to another mob without our knowledge or consent.

About 8 Months after the business was on-sold I got the dreaded email. The trustees called in the Receivers because they were in default of the trust deed. Letters from the directors were coming in saying how badly they were dealt with by the receiver and they wanted us debenture holders to unite and stop the receivers. The truth was that they defaulted and that was that. I decided at that point I just wanted my money back as I could no longer trust them but that wasn't going to happen. The receiver's were the only option left.

We were told that at best we would get back 55c to 65c in the dollar, how pathetic is that?

It is now 2 and a half years since they went into receivership and we have only got back half of our money. We have been told we must wait for the other half of the 60c in the dollar.

What happened to all those first class mortgages? It has been found that they were over valued and were worth nothing near the price they said it would be. The directors also advanced loans to themselves to the tune of hundreds of thousands of $$$. Apparently this was allowed in the trust deed and they still haven't paid this back.

So what I wanted to say to all you contributers to this thread is this. Your company is not in receivership and I hope they never will be. I want and wish for all of you to get your money back. Having read what I read so far on this thread doesn't sound promising but I do wish all of you the best of luck.

I just wonder why our authorities allow such shonky operations to continue. My story was minor compared to other mates of mine who had everything tied up up in other mobs. Where are our regulators? And why aren't they doing a better job? This should never be allowed to happen.

I personally will never ever put any money with a debenture or mortgage fund again. Too much risk for a so called "safe and secure" return.

Anyhow good luck to you all.
 
Equititrust Crisis

Well said and indicative of why investors will NEVER put another dollar into mortgage funds again, particularly ones from the White Shoe Brigade Gold Coast.

It staggers belief that Equititrust were trying to raise another 50M whilst in this perilous position. To have not disclosed the 35M in losses and the fact that the loan book was going to be 80% in default is on another level of non-disclosure.

I would not be surprised if ASIC is investigating possible breaches of the Corporations Law as well as contraventions of the Trade Practices Act..

McIvor in his investor updates - January even states that they have welcomed their first investors to the new 50M Fund. What will happen to this money if it is actually true that someone was so uninformed that they invested. Will the money be returned ?


After this stunt of Non Disclosure to new and existing investors the question now, will ASIC allow them to raise funds from the Public again? The information that was withheld was of the most fundamental importance to any investor be they seasoned or otherwise. Withholding key financial data is inexcusable..


The advent of the internet and social media is giving investors some claws and teeth in their ability to fight back and demand transparency. This web site and thread is a perfect example of the empowerment of investors.

I wish you luck as well in recovering the remainder of your money.
 
Can you eat?


I loved the Blythe Masters piece on his show.

Global klepocrats.

great label

cheers
GL
 
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Re: Equititrust DISGRACEFUL CONDUCT

Olman and others have heaped lots of scorn on me - however this :- McIvor in his investor updates - January even states that they have welcomed their first investors to the new 50M Fund. What will happen to this money if it is actually true that someone was so uninformed that they invested. Will the money be returned ? - ranks as a disgrace and tantamount to fraud of the highest order. Worse, we have to presume that the NATIONAL BANK who stood to get paid back, stood idly by, knowing that this new raising was more than likley a con, but happy to do nothing in order to get their money back. At this time that this PDS was being flogged, Equititrust CEO Kennedy and the Board knew that they were sitting on atleast another $35M of bad loan write offs as well as a three month cash crisis - just smother the bad news - however were happy to welcome new investors! A bloody disgrace. Hey, Olman - don't call me a liar because I cannot recall whether I sent you a private email or not. Get real pal.

My last comment on most of this is that at the time most of us got involved with Equititrust when the McIvor boys were running it (pre the MFS cowboy days), we were well secured and only had small debt, if any, secured ahead of our investment. Then slowly over a few years, someone's greed got in the way. How? well, our money was all supposed to be in mortgages - safe mortgages, with borrowers who paid their interest, on time. Now, Equititrust took out a bit for fees and costs and we got the rest. That was all OK. However, some bright spark figured out that if they could give away our security to the greedy BANKS at a lower rate, we would get pushed into the status of being second mortgagees - which is not what we ever agreed to. Equititrust would charge higher interest and take on more dodgy and risky borrowers, with the extra money they now had on hand; these dodgy borrowers would pay higher fees to them - not us!. That did not cost Equititrust anything. Even the BANKS took no risk because if some of the loans went bad, which they now have, it came out of our money, and we never stood to gain from the income of any of these dodgy loans which were financed with BANK MONEY but using our SECURITY. We stood to gain NIL but did stand to take all the loss!

Now, OLMAN, keeping a straight face if you can, tell me that we haven't been conned and that the NATIONAL BANK hasn't been part of this. The AUDITORS KPMG know and are into it. ASIC must know this is how it has all worked.

If you need any proof of this, look what happended when the COMMONWEALTH BANK merely wanted their money back. How dare they ask for their money bank - this has bene a great con, why wreak it now?

Our money has been in long before them. The CBA money probably went into the crazy loan book expansion into dodgy loans. They want their money back, so EQUITITRUST who signed all the papers that gave them the first right to get paid back, pays them back, freezes our requests for redemptions, however still is able to somehow blame the CBA for being lucky enough to be able to weasel their money out. I am pissed off. However, I guess I have to say well done CBA.

Now the Equititrust spinmeisters - OLMAN and OZAD - will turn all of this onto us. We are just spreading rumours. Yep! That's what it is. We all work for the CBA.

Equititrust, OLMAN, OZAD - (quoting Michael Douglas from Wall Street) - I'll do a deal with you - stop telling lies about us and we'll stop telling the truth about you. How does that sound?




 
I have a feeling that Mr. Kennedy will come back to us and tell us that ASIC is wrong, Sydney Morning Herald is wrong, The AGE - Melbourne is wrong, the BrisbaneDaily is wrong and THEY ARE ALL BORROWERS. Because Mr. Kennedy, only Borrowers complain about your salary and only borrowers have something to gain out of Equititrust being wound up and only borrowers have something against Equititrust. You are wrong - Investors simply want their money back.
 
Re: Equititrust Kolonel 'Klink' Kennedy . . . I know nuthink!

The guilty man's mantra ignore reality just deny deny deny . . . .
 
Equititrust Crisis

Interim Financial Reports still not issued, no comment on 3 months remaining cash position... Public Perception is Terrible

Statements from Kennedy one day.. Then a gagging order.. Then statements from McIvor on the Web Site regarding the media. Who is running the show... Public Relations / Media Management expertise... Zero
 
Re: Equititrust MEDIA

If FAIRFAX did contact EQUITITRUST and IF they were given CONTRARY material which they were able to CHECK and then did not give un-biased reporting of same - then McIVOR's compliant raised on his web site dated 14-2-11, is valid.

I dont know the answer to this etc HOWEVER I suspect that given McIVOR can pen a two page media retraction in a day of the MEDIA EXPOSE and still choses some 8 months after 30-6-10, fails to provide any accurate financial reporting etc - I think, speaks volumes.

It is too trite by the way, when referring to what was clearly ASIC's reluctant intervention, to pass it off as a simple mis-understanding and 'they had their view and we had ours'. If ASIC's view of the PDS was NOT correct, do any of us belive for one minute that it would have been withdrawn? Clearly, the PDS was wrong and had to be pulled or a STOP ORDER would have followed.

Clearly, given subsequent revelations about CASH SHORTAGE and DEFAULT LOAN STATUS, there were and remain SERIOUS issues of DISCLOSURE (or rather NON DISCLOSURE) that remain outstanding.

At this stage, any reasonable person would surely form the view that COLIN KLUGER of Fairfax raised matters which clearly are of ,and ought remain, matters of serious PUBLIC INTEREST.

 
Equititrust is unable to reply in detail to the numerous inaccurate rants posted on this website. This is not the forum to be disclosing matters about Equititrust.

Equititrust takes its ongoing disclosure obligations very seriously and if there is a matter which may have a material effect on an investor's investment then appropriate disclosure will be made as soon as practical. The correct forums for this disclosure are in our letters to investors and our regular updates on our website. I would encourage any genuine investor to regularly visit such website or request email alerts when additions are made. As any true investor will also know, an invitation has been extended to receive hard copies of any notifications for those without access to the internet or those that would prefer hard copies. They may also call our investor relations team at any time and if not satisfied may contact our CEO directly.

It is all too easy for anonymous parties to make outlandish allegations on websites that are simply not supported by the facts. If we addressed each such allegation we would be spending all day dealing with such issues rather than the issues that are important such as getting money back to those investors that want it.

Some matters however do warrant specific mention:

(i) The accounts for EIF are not late as some participants on this site repeatedly state. They are currently being audited and will be completed and posted on our website well prior to the ASIC deadline of 16 March 2011;

(ii) The articles appearing in several Fairfax newspapers contain numerous errors of fact and the newspaper knows that they are untrue - their excuse was one of confusion or misunderstanding. A visit to our website will show our response to such articles and what action we intend to commence against Fairfax;

(iii) EIF will not be incurring impairments of $35m (or in fact anything even close to this figure). The true figure for impairments will be posted on our website in the next few days as soon as it is finalised with our auditors. We shall also be posting a detailed assessment of all EIF loans greater than $2.5m (which collectively represent approx 95% of the loan book) outlining current debt, last valuation, date of last valuation, exit strategy and likely timing of repayment;

(iv) When a borrower defaults we work with them to repay the loan. It is only if they are unwilling to assist or dishonest that we take more formal steps. Several dishonest borrowers have made it clear to us that if we continue to pursue them for outstanding monies they will do what they can to cause damage to our reputation. By way of example, one such borrower made it perfectly clear that he has friends in the Sydney Morning Herald and that he would use them to cause damage. The first article about Equititrust appeared several days after we appointed Receivers due to theft by the borrower. We will not shy away from such steps to protect our investors' interests merely because someone threatens us with commercial terrorism;

(v) Olman is not a representative of Equititrust. He is a genuine investor who took up Mr Kennedy's invitation to discuss areas that concerned him (an invitation not taken up by many of those who continue to rant and rave when surely a phone call would have been the most efficient way to address concerns rather than anonymous postings). Equititrust has no influence or control over Olman's posts but applauds his objectivity (ie criticise when it is warranted and compliment when it is likewise).

The irony of the attacks on Equititrust by the SMH (whose investment performance over the past 3 years has been nothing short of woeful) is not lost upon us. $1 invested in Equititrust in 2007 is still worth $1 with investor returns of approx 25c made during this time. $1 invested in Fairfax in 2007 would now be worth 41c (and that's after dividends). That's correct, an investor in Equititrust would be more than three times better off than a Fairfax investor. In the circumstances one cannot help but note the hypocrisy of their attacks.

We are not happy about the deferral in redemptions with some $40m worth of redemptions outstanding (which is more likely $20m-$25m after allowing for those investors who have advised us that they are asking for more so that their pro rata redemption amount in increased). We have however repaid banks approx $100m and paid redemptions of approx $21m since the deferral commenced, all the while maintaining income distributions in full and on time.

We are proud of our history of protecting investor interests (including voluntarily subordinating $40m worth of our own investment in EIF upon the onset of the GFC). In addition Equititrust has voluntarily absorbed all impairments on loans since the onset of the GFC. By way of contrast, the performance of Colonial First State's Mortgage fund (owned by the government guaranteed Commonwealth Bank) does not compare.

Would we like to state that investors investment is 100% safe? Yes we would but ASIC guidelines restrict us from making such statements. What we can say is that Equititrust would have to lose its entire $40m investment before investors lose one single cent. Such commitment to protecting investors is unheard of in the Australian mortgage fund industry.
 
Equititrust

Equititrust's post on this web site and letter to Investors regarding the Media on its Web Site is one version of events.... There is another version which they cleverly fail to mention...

Outlined below is what is not in dispute and is a critical factor for an existing investor and a potential new investor:


INVESTORS FUNDS HAVE BEEN FROZEN FOR 2 YEARS


LOAN DEFAULTS ARE ESTIMATED TO HIT 80% BY THE END OF APRIL DESPITE SO CALLED LANDSOLVE INITIATIVES


3 MAJOR BANKS HAVE WITHDRAWN THEIR FUNDING TO EQUITITRUST


1. COMMONWEALTH
2. NATIONAL AUSTRALIA BANK
3. BANK OF SCOTLAND


EQUITITRUST HAVE ACTED IMMATURELY IN POSTING CARTOONS AND JOKES ABOUT AUSTRALIAN BANKS IN THEIR ANNUAL REPORT . (Investors thought Mr McIvor was more mature than this)


50M DOLLAR PRIORITY CLASS INCOME FUND WITHDRAWN AFTER ASIC INTERVENTION (ASIC obviously has concerns and the simple fact remains after much fanfare the PDS was withdrawn) (Why was the PDS not submitted to ASIC for review prior to its launch)

Comments in regard to the Interim Financials do not relate to an ASIC Deadline but to the fact that the Interim Financials and inherent impairments should have been expedited and published by the end of January. More importantly they should have been published prior to the new 50M PDS being launched so that new and current investor's had a full and transparent report as to the financial affairs of the company..


The fact that the loan book will have an 80% Default Rate is enough in itself to raise concern amongst investors and the general public. Any reasonable person would agree that an 80% default rate is not acceptable. In light of these revelations, coupled with the fact that there are no new loans being issued and limited, if any, investor inflows Equititrust has a number of major issues it should not be happy about apart from investor redemptions being frozen. And as Choice magazine correctly stated Equititrust:


"doesn’t have a credit rating (for example, by an organisation like Standard & Poor’s). Its credentials haven’t been independently researched by a credit rating agency or investment research house, meaning it wouldn’t generally be on the lists of approved products used by professional fund managers and investors".


http://www.choice.com.au/reviews-an...products/a-warranty-for-your-investments.aspx

Equititrust cannot prove that Olman is not Equititrust itself, if it could it would have...

Equititrust aligning themselves to Olman's comments and comparisons of legitimate Australian Media Awards to "Hitler" will I am sure, endear Equititrust to Australian Journalists of Jewish Origin and the Jewish Community in general.

The fact that Equititrust has resorted to having having immature battles with people posting on internet websites and making alliances with others indicates a company in crisis. Equititrust's CEO in previous posts has said he would no longer post on this site, yet they are back again. No serious player in the finance industry having over 240M dollars of investors money would play Facebook over the internet. Their posts are welcome however, if only for comedic value...

Comparing Equititrust to Fairfax Media is laughable. I don’t think such a ludicrous comment has ever been made by an Australian Company which has had a negative story published about it.. The journalists are writing a story in the public interest. Does Equititrust in its paranoia seriously think the Fairfax Media has a VENDETTA against it.. Again Equititrust employs a bunker mentality and has the temerity to accuse the Sydney Morning Herald of colluding with one of its borrowers. The ridiculousness of this conspiracy theory is beyond belief.

In any event every investor in Fairfax had the ability to sell their shares even at a loss. In Equititrust the money has been frozen and investors have not had the ability to move on with their lives. There is still no firm date as to when and if investors will get 100% of their money back. Equititrust cannot give that guarantee.. Further I know of no banks that have withdrawn funding to Fairfax.


All the comments meant to comfort the investors about Equititrust having to lose 40M do not substitute the fact that if the Investors money was deposited in a bank, they may have received a slightly lower interest rate however, they could have withdrawn their money AT ANY TIME and do not have to go through a harrowing hardship redemption process. This is the fundamental flaw with investment in a mortgage fund; they can freeze your money for many years... Having to worry about whether the bank has to lose money before you do is irrelevant.

In any event don't believe me, read what highly respected consumer magazine Choice has to say specifically about Equititrust and make your own conclusion:

"In April 2008, ASIC took action against Equititrust’s previous advertising and PDS. It ordered that adverts couldn’t imply that the investment is suitable for a particular class of investor such as retirees , or comparable to a bank deposit. ASIC also stipulated that Equititrust can’t advertise words like 'safety', ’secure ', 'warranty' without stating the size of the warranty and the size of the income fund. Following the action, Equititrust’s advertising and PDS promptly complied with these new requirements."


"If safety for a 6–24 month investment term is what you’re looking for, you’d be a lot safer with your money in a bank. Banks are prudentially regulated, and some of their term deposit rates are almost as good as Equititrust’s. "

http://www.choice.com.au/reviews-an...products/a-warranty-for-your-investments.aspx



Equititrust CANNOT state that Investors Money is 100% safe, ASIC restricts it from doing so...
 
Re: Equititrust: they emerge: David Tweed: where are you?

Typical Kolonel Klink Kennedy - this website is not the place to answer factual matters, so we will answer what it suits us to answer now and leave the real facts in the closet. More of the same non-disclosure.

Now, let's look at this last lot of diatribe:-

1. The SMH Journalist cannot be believed, because his own company's share price has fallen. Wow, where did that logic come from? Dare say, Colin Kruger and his editors are independent and objective and not influenced by share price and whimes of their proprietor.

2. The non-paid redemptions are much lower if you exclude those poor individuals who had the temerity to ask for more money back (their money by the way!) than the ASIC hardship guidelines. How do you lower the figure that you clealry cannot repay, by blaming the very investors who ask for their money back, using the peverse logic, that they asked for more than they should be asking for! Glad to see that McIvor doesn't miss out on his $15M a year, snout in the trough!

3. Equititrust $1 investment is still worth $1: is that right? Like to show the poor old investors how this can be the case if 40% of the loan book is in default and likley to climb (in Equititrust's words) up to 80%! If it's worth a $1, why can't we get it back when we want it back. Where is David Tweed when you need him?

4. We'd love to tell you 'we are safe' but the Corporations Law and the Corprate Watchdog (ASIC) won't let us tell you that. And why would that be? Because they are there to protect investors by chance?

I am sorry - my patience with this self serving cowboy outfit is at an end. I intend to move for the ASIC to appoint an independent Receiver. Alternatively, the National Bank ought very carefully consider their conduct.


 
Re: Equititrust: now, some false reporting..... when is an investment just a puff

I asked this question previously:-

Kolonel Klink: Has Equititrust ever invested $40M in real money in its own fund? I mean by this, such as people like us who invested, and wrote a cheque out?

This is what you keep saying and everyone has a real issue with:

We are proud of our history of protecting investor interests (including voluntarily subordinating $40m worth of our own investment in EIF upon the onset of the GFC).

We are all tired of manure, smoke, relfective glass and Gold Coast b--l s--t!

Did you put your money in in 'real money' or is this just more media and accounting spin!

FINALLY: what sort of Borrowers does Equititrust have - they for the most part, cannot pay their interest as Equititrust 'capitalises' it; they cannot pay back their loans; they dont know who to develop the property, as Landsolve has to do that; and now, they are dishonest and crooks!!! What have we paid Equititrust to do? and entrusted them with our money for? To cobble together a bundle of misfits who can't pay; can't develop; liars and dishonest! Hell, it just gets better every day doesn't it!


ps: Colin Kruger - well done - keep to the facts at all times and keep us posted please!

THIS IS UN-FOLDING INTO A MEL BROOKS STYLE FARCE - OR MAYBE MICHAEL CAINE AND STEVE MARTIN CAN DO A REMAKE OF DIRTY ROTTEN SCOUNDRELS.
 
Re: Equititrust: spin spin spin

If OLMAN had been told in DECEMBER when he supposedly called t the KOLONEL'S SPINNMEISTER BUNKER that, a) there was to be a cash run out in 3 months and b) impairments reaching 80% - OLMAN would have reported that on this web site, surely. He did not .

So only one of two things could have happened:-

1. OLMAN was told all this bad news by Kolonel Klink and chose not to report it - in which case, we can put Olman's objectivity in proper perspective, atleast, OR

2. OLMAN was not told by the Kolonel any of the bad stuff that was brewing (and forced to be announced only days latter!), in which case we can now all well understand why a call to the SPINMEISTERS OF CHEVRON ISLAND was then and remains today - futile.

It can only be only of the two.....
 
Dirty Rotten Scoundrels - 2 A Story of The White Shoe and Hair Brigade

Ok, if Dirty Rotten Scoundrels is remade, who will play Ruprecht... McIvor or Kennedy...

After their last desperate, yet hilarious, late night posting on this web site, looks like they are both vying for the role...

Tip guys, don’t drink and post, you may regret it in the morning... Ouch
 
Equititrust's History of Handling The Media

Here is a reminder of how Equititrust has handled the Media in the past..

Example 1.Raptis seeks saving grace
Scott Rochfort Sydney Morning Herald
September 12, 2008

“The stricken City Pacific First Mortgage Fund has lent on several Raptis projects.
A mortgage fund run by Equititrust has also lent money to Raptis. The Equititrust chief executive, Mark McIvor, did not return the Herald's calls to explain how his company's Income Fund, which holds about $300 million of unit holder deposits, was placed to handle the crisis. The Income Fund was ordered by the Australian Securities and Investments Commission in April not to make any "offers, issues, sales or transfers" to new investors.Equititrust has a $35 million loan due for repayment on September 30, which was originally due to expire on May 31.”

http://www.smh.com.au/business/rapti...0911-4epr.html

Example 2.

“More mortgage funds frozen as jittery investors take cover Anthony Klan From:
The Australian October 22, 2008

A spokeswoman for fellow Gold Coast mortgage fund Equititrust, which holds about $300 million of ordinary investors' funds, said managing director Mark McIvor ``won't take your call''. “http://www.theaustralian.com.au/busi...-1111117816240

Example 3.

Mariners Cove 'transferred' to mystery partner
Nick Nichols, business editor Gold Coast Bulletin | February 5th, 2009

Meanwhile, Chevron Island-based merchant bank Equititrust is understood to have a $35 million exposure to Raptis Group.
The property lender, headed by former lawyer Mark McIvor, did not respond to questions put to it by The Gold Coast Bulletin yesterday.

http://www.goldcoast.com.au/article/...-business.html

In all 3 examples given, the CEO would not talk to the media and in one example explicitly told the staff to say that “he won’t take your call”


There are two sides to every story, and Equititrust's appalling history in handling both the local and national media continues...
 
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