Reply to MAID MARION on Castlereagh:
Hi MAID MARION,
I talked to Castlereagh Director on my recent trip to Sydney.
Their position is in a waiting mode, the "waiting" bit is:
1. For PIF to re-instigate WC removal process.
2. CYRE group aka B. Trilogy advised the same.
3. I pledged $3,000 to get members rolling again with
firmer tactics (closer and firmer instructions
to Castlereagh) and a clear request to Greg Medcraft to
ensure ASIC's committed oversight this time.
To date; I received no response to this call from either:
--- any PIF member
--- from PIF Executive
--- from ASIC's Medcraft and Sydney Directorates
My overall scorecard is: huge expenses on actions taken so far, relative to what I can afford; rewarded by a sniggering snippet in Scott Rochfort's CBD of 13 Feb 2012.
I am determined to reach results in my continuing stages;
1 & 2 completed; 3rd to begin soon.
I would have expected a far more engaged and united front of PIFers to make our own destiny.
Instead, I am fronted by cautions of "divided house" and similar trash.
To be sure, I do have support and I am well aware of it. But it is our Executive whom I am at pains to convince, that ASIC is hell-bent to remain aloof to our plight for as long as Medcraftie does not renounce his, by now so sordidly infamous passage in Itallics:
[[[...Wellington Capital confirmed to ASIC that it considers the amendments to be within its power and in the best interests of the members of the PIF.In these circumstances ASIC is not proposing to take further action in relation to the specific issues raised in relation to the Placement and Non-Renounceable Rights Issues...]]]
Here again I did not hear one pip-squeak of recognition anywhere on the thread whether they agree or not that such view expressed by ASIC Chairman IS not just
an obstacle to PIF progress, but ITS DEATHCALL.
This is how this passage MUST be read.
This is why I went to Canberra, past ASIC, to demand that this cosy protective nexus between ASIC and WC be forcibly broken.
You all need to remember that 4 years of ASIC "investigation" have so far produced 1 and only one action:
ordering PWC back into WC's barbed wire compound.
Atlas 1950 has recently asked about Breaker1.
I can answer; Breaker 1 is an ASIC devotee who unswervingly believes in ASIC's eventual turn-around; but for now all negotiations are hush hush and "confidential".
I was even assured that first quarter of this year will see that "turn-around".
Quarter's up on my calendar.
There; cop it members! Are we hypocrites for demanding transparency from Dgenny's "Investor Advisory Committee" and not being transparent within PIF real membership itself? Don't worry about latch-ons; not one yet entered this forum with a sympathetic contribution.
PIF AG also informed us in last update that PIF Initiative transferred balance of their funds to PIF AG, but members are not privy to know the amount involved.
Could this amount plus member contributions such as offered by myself with others possibly joining, be good for starting RE replacement action?
Dgenny, I know you are there, what would you advise?
Back to Castlereagh, we know that they covered PIF AG costs
in WC action with Doubtsett's connivance.
So the PIF kitty may be a starter.
PIF AG transparency via updates would be nice.
I take this opportunity again to ask PIF AG to join this discussion to justify your leadership.
Of course, it may be that I will be buried by an avalanche of eager queries about stage 3 that I've been trumpeting lately; but judging by non-responses to my own avalanches of actions and correspondences posted here by me, I fear the APATHY, so painfully disclosed by seamisty and a smattering of members, may prevail.
Prove me wrong!
I hope MAID MARION that you are now on top of Castlereagh involvement.
Regards,
OCV
octaviar limited
