wellington capital ltd are transparent as mud, page-3

There should be no negatives to highlight if the resort had of been maintained to an acceptable standard expected by PIF investors by current management. Reports of individuals on site conducting 'car park' sales, property and infrastructure disappearing to out the back of Bourke or elsewhere, signs plastered all over the resort by 'Kooralbyn Asset Management' of which the PIF's external compliance officer is a director/shareholder of. Buildings gutted and anything of value removed, including copper wiring and aluminium window frames!Not to mention furniture and other property relocated to Victoria and elsewhere. Wellington Capital Ltd's continued refusal to disclose the exact reason for KAM's presence at the resort, etc etc. And lets not forget there was a buyer for the resort who backed away citing "the poor state of the Kooralbyn Resort for his decision to pull out of a $25 million deal to buy the long-dormant property.All of these outer buildings have been vandalised almost to the point that they have to be bulldozed
He said some buildings had copper pipes and wiring stripped from them, as well as windows, aluminium joinery and fittings"
There are many negatives and my information is the blame lies with current management of which I am having problems getting direct answers from. See how you go asking the same questions Thomas and speaking of cash in our pockets, where are the proceeds from all the other PIF asset sales??? I guess its not cheap ferrying property from one location to another, and another, and another.....by unamed contractors. So Thomas, also lets not forget that this propety now owes the PIF $96million, so yeh, its a firking big project alright and it will take a VERY BIG FRESH APPROACH to return PIF investors what is outstanding.Its also my endless concentration that continues to expose a very small part of what is happening to our assets and just why we are seeing PIF unit values vanish along with PIF related property.