OCV octaviar limited

Alpha the money has already been stolen away while the old board...

  1. 1,717 Posts.
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    Alpha the money has already been stolen away while the old board was in control.It is them you should be head hunting, not the new directors who have to pick their way through the mire that they inherited and cop the flack from all the disgruntled investors!! They have to deal with the likes of ASIC and all the creditors, not to mention the media and pending legal actions.The PIF would be worth less if left where it was.Yes, there are many unhappy shareholders, but there are 11,000 people, most who relied on the monthly distribution from the PIF for their sole source of income!!!!They invested in the PIF because they were assured by 'senior investment advisers' at OCV and wholesale fund managers that the fund was as safe as money in the bank backed by assets independant from OCV, held in trust by Perpetual nominees, blah blah blah. They have been blatantly lied to and misled by the old directors and staff at OCV. They are HURTING badly!!!!If the fund is left under the sole control of OCV there is every chance it would have to be sold down to pay back creditors. At least Jenny Hutson is prepared to attempt to restore it. I can't see Wellington Capital doing any worse for the investors than what has already happened. If she gets it up and functioning with no loss to the unit price, she and Chris Scott will be a hero's are far as PIF holders are concerned because I can't imagine any holders ever placing trust in the people they have previously had to deal with at OCV. Please don't shoot the messenger, go after the pre decessors who did the lying, cheating and stealing!!! Seamisty
 
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