Just so you guys holding ESI know - the bloke who owns and runs Fortrend has been having a running battle with ASIC all year about his sloppy business practices at Fortrend. AT one stage early this year he was almost disqualified from holding his licence altogether.
Basically - he is a sloppy businessman - and given the complaints I have had from friends who have used Fortrend, one could hardly endorse the company or its principal.
http://www.asic.gov.au/ASIC/asic.nsf/byHeadline/AD08-75%20ASIC%20accepts%20Fortrend%20enforceable%20undertaking?opendocument
http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/017029228.pdf/$file/017029228.pdf
I am not privy to the fine detail of the ESI borrowings from Fortrend, but I hope they have crossed their "t"s and dotted all "i"s because Fortrend are very very sloppy people to deal with. Don't take my word for it...read the links I've provided.
Coop
fortrend, page-6
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