more on asic, page-2

And on MFS** Fee grab

And so the calls went on this week. There were two phone calls which spring to mind. The first one pointed out that administrators Bentleys had charged almost $20 million in fees and disbursements from the failed Summit Mortgage Fund. This was half the $40 million in recoveries from Summit, guzzled in lawyers' and liquidators' charges.

This time last year we reported how Bentleys had ripped $17 million out of the corpse of Octaviar (nee MFS). The regulatory failure in insolvency is epic


Read more: http://www.smh.com.au/business/comment-and-analysis/watchdog-shies-away-from-enforcement-20140228-33r4a.html#ixzz2ufh1oMEi
,,