"I'll never understand why they were so gun ho about trying to win up Octaviar without talking to them...meeting with them or considering OCV's proposal..must have been some other agenda."
Yes BB,
Coming from the perspective of the owners of units in an apartment block managed and let by a Listed Company there are a number of grievances...Thus the importance of Legislation regarding the Listed Companies responsiblities when dealing with those owners..THe Body Corporate in different states must come under their particular states legislation.
The grievances in Queensland have resulted in legal action.
The raid on S8 by ASIC was followed by a S8 EGM the next day that raised 100mil from noteholders?..perhaps passed onto MFS.the other interesting thing happening on that day was ........... the introduction of a Bill in the QLD State parliament regarding Body Corporates. Evidently there was some worry about the possiblity of stacking a Body Corporate to give the manager an unfair advantage, in some way.
Body Corporates are very powerful in QLD.imo.
The OCV1 owners site has brought the relationship between a OCV1 identity and a OCV2+CVC[Stella] into the spotlight for me, anyway.
A connected law firms site describes the OCV1 group to include managers[Stella?] as well as owners and suppliers.
I am just watching the blending and evolving roles as we sit holding our non trading percentage of the management and letting side [on behalf of other private unit owners] of this holiday/accommodation business..PLUS many other travel related businesses.
I did think that the split between two identities managing a letting pool had to be 50/50..
Each State appears to have different legislation..
I am not qualified to make any assessment or judgements but am interested in what is happening in this industry.
Ill try to find something interesting that IKE will like.
OCV
octaviar limited
