Landsolve Partners

McIvor's Landsolve turns white knight to Equititrust

Colin Kruger
Sydney Morning Herald
July 4, 2011



AILING Gold Coast mortgage fund operator, Equititrust, appears to have found a novel solution to the cash crisis that has left its flagship fund at the mercy of its bankers.

Equititrust stands to be the beneficiary of a $200 million raising by a company that is so closely aligned it shares Equititrust's address, telephone number, and founder, Mark McIvor.

The McIvor-founded Landsolve Partners, which describes itself as a ''multi-disciplined finance and property funds management group'', plans to raise $200 million via the Landsolve Capital Solutions Fund.

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Lands of Plenty

Scott Rochfort
Sydney Morning Herald
July 4, 2011



Overarching principle ... Equitrust founder Mark McIvor.

The founder of the Gold Coast financial concern Equititrust, Mark McIvor, really does appear to be living up to the latest Charles Darwin quote he is promoting as part of his new venture. ''Logic will take you from A to B. Imagination will take you everywhere.''

Despite Equititrust's flagship mortgage fund hitting choppy waters recently by having to write down the value of its units by 22 per cent, McIvor is a lot more bullish about his new company, Landsolve Partners Limited.

''Our hallmark skill is providing income solutions. Our objective is to enable investors to 'live life to the fullest' through higher yield,'' McIvor said in the offer document, which is trying to raise up to $200 million for the Landsolve Capital Solutions Fund.

''The global financial crisis has proven the investment market carries uncertainty. It is imperative your capital achieves an optimum return.''

The Landsolve fund, aside from making loans to developers, might also ''make loans or invest in other management investment schemes'' that are run by Landsolve or its related parties (aka Equititrust).

One wonders if this could include the struggling Equititrust Income Fund, which is required to repay a $25 million facility to the National Australia Bank next month.

Landsolve has also inherited Equititrust's Roman voussoir arch logo. ''The Roman voussoir arch was a breakthrough in structural stability. Combined with pozzolan concrete, it was one of the sturdiest methods of construction the world had ever seen,'' the Equititrust website says.

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No Trust said:

This Capital raising will not proceed... the same fundamentals exist now as in January when EquitiRust tried to raise 50M and ASIC intervened and stopped it. Landsolve/EquitiRust/McIvor can try it on, however they can’t run from the fact that they lost tens of millions of dollars of innocent retiree's money… That’s a fact that they cannot deny. I think you will see ASIC react after Colin Kruger’s article in the SMH yesterday. When Colin Kruger’s article appeared in January this year ASIC were forced to take notice.. Those who are outraged can simply make a complaint to ASIC, their local MP, Wayne Swan’s office or the media..

Congratulations to COLIN Kruger and Scott Rochfort from the Sydney Morning Herald for exposing the "latest scam" by these Gold Coast Cowboys…

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