Yes selciper, that's the regrettable reality.
Still, it is ASIC's doing in procrastinating on all the evidence provided to them on WC breaches of s601 subsections.
They continuously inform all and sundry that "the matter is under investigation", however themselves are committing a breach of their own procedures which require suspension of an RE while that RE is under investigation.
This happened in some other RE cases I posted in the past, but as the special relationship with WC continues, PIF misses out on ASIC's selective application of supervisory whipping.
Ms Snow's response on behalf of Dgenny to my "Memory 8" letter said it all.
And we still have no idea what happens in this situation:
"# 8505049 Posted: 06/09/12 07:53
"...The NSX announcement states that Wellington has entered into agreement with IMF on behalf of the PIF. It has agreed in that capacity that it will convene a members meeting of the PIF within 10 days of receipt of proceeds in finalisation or settlement of the claim. The purpose of the meeting of members will be to enable the members in general meeting to consider an amendment to the Constitution of the PIF, so that those members who were members of the PIF on 15 October 2008 and remain members at the time of the finalisation or settlement of the claim, are pro-rata the beneficiaries of the proceeds."
July 2011 we were burned by Dgenny's adherence to
meeting-disorganisation protocols.
ASIC has not lifted a finger to indicate this will not happen again.
Not for want of trying from yours truly.
And that's it in a crack.
Regards,
OCV
octaviar limited
