Comments for Victims of Vestar

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by Denise Hill

Denise Hill — Fri, 02 Dec 2011 22:06:32 +0000

Thank you Vern and all of those who supported and assisted you in this long process. I’d have preferred a more optimistic outcome however, as you point out, there seems little to be achieved in throwing good money after bad

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by Brenda Dalton

Brenda Dalton — Thu, 01 Dec 2011 08:31:55 +0000

Thanks again for all you all did for us all. We did feel that we were not alone and you have all made the right decision not to continue as the big boys have all banded together and this includes politicians, judges and the top 1 percent wealthy. Were we naive to expect justice especially as as we have a government lead by a PM with roots in the financial industry?

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by Brenda Dalton

Brenda Dalton — Thu, 01 Dec 2011 07:58:47 +0000

Hi Vern, thanks to all concerned for all your work. I believe we signed a form ages ago with EUFA that we would get compensation from any cases that the authories prosecuted. How do we go about this if the FMA succeed. I thought there was a case recently which said only people who had registered would be compensated. Who do we get in touch with to follow this up?
I have been rung by finance companies looking for clients and have been furious at them. They are only pimps for the big boys who see ordinary people as just cash cows. People beware of this. We do not need burning twice and these vultures and their henchmen are still looking for business (our money).
My condolences to all of us. We deserved better. Good luck to the FMA.

Comment on Vestar legal case – Luscombe v O’Sullivan, Syms, Purvis, Gaylard, Jackson, Swain, Curtin and Perris by James Parker

James Parker — Thu, 01 Dec 2011 02:26:40 +0000

I was at the first meeting of VOV in New Plymouth, I did not sign in at that time I wished to keep my options open. What I do know is that an adviser from another firm stood up and said Vestar was wrong, and yes they were to some extent. However I now find my brother-in law used this adviser and lost money with various finance companies like St Laurance, Property Finance & Strategic just to name 3. He also lost money on other investments via the same adviser. So its not only Vestar, they may have been the biggest, but other advisers promoted the same companies, including Bridgecorp & Capital & Merchant. Funny that! My brothers-in-laws comment was why is there no action against these other advisers? I had no answer.

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by VoV

VoV — Wed, 30 Nov 2011 22:15:56 +0000

@John Corner:
Thanks for the feedback John. My aim was to do what I could to help the cause by volunteering to help EUFA via this blog. But I think you’ve identified the biggest benefit we’ve delivered to burnt investors – the knowledge that you are not alone. There were many, many of us, but no way to get in touch or compare notes and share stories until this blog came along. I’m really pleased to have been able to help.

From a personal perspective, it was important to me to do something constructive because doing nothing and remaining silent would have effectively been condoning Sym’s and Purvis’ behaviour.

We don’t usually think of history as being shaped by silence, but, as English philosopher Edmund Burke said, “The only thing necessary for the triumph of evil is for good men to do nothing.”

I think regulatory change will come about because of people like us taking a stand and making noise, but I’m not convinced it will be enough. We don’t need disclosure statements; we need advisors and promoters to be accountable and face criminal convictions if they do wrong.

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by John Cornor

John Cornor — Wed, 30 Nov 2011 07:17:13 +0000

Thank you Vern for your work on my behalf. My thanks also to your helpers, and to the dogged efforts of the EUFA team. You kept giving me hope, but more than that, as I mentioned to Barry K., you made me feel that I was not alone.
Yours in gratitude…John C.

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by VoV

VoV — Tue, 29 Nov 2011 08:42:40 +0000

@LAH
You are most welcome. Thanks for the feedback

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by LAH

LAH — Tue, 29 Nov 2011 08:41:29 +0000

Hi Vern. Just wanted to say many thanks.

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by VoV

VoV — Tue, 29 Nov 2011 07:57:50 +0000

@Graeme
Thanks for the positive feedback. It has indeed taken much emotional energy!
Re the FMA, yes, we just have to wait and see what eventuates now.

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by Graeme

Graeme — Tue, 29 Nov 2011 07:55:45 +0000

Lawrence/Barry/Vern,

A brief note of thanks for your efforts re the Vestar claim. I know that it has taken a considerable amount of your time and effort (and no doubt an enormous amount of emotional energy). While the outcome is disappointing I certainly understand and agree with the logic of the recent decision not to proceed.

Barry’s recent email indicates that the FMA is now involved and likely to pursue legal remedies. Is this now simply a matter of waiting to see what happens next?

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by VoV

VoV — Tue, 29 Nov 2011 06:12:03 +0000

@HC
Nudge, nudge, wink, wink, say no more!

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by HC

HC — Tue, 29 Nov 2011 05:49:49 +0000

Thank you Vern for all the blogs and work you put into getting the ‘case’ thus far. There must be many cartons of data and useful information for the FMA or any other apropriate bodies who, I hope, will take over our fight for justice. I expect Lawrence also has much legal data etc he’s worked on to date which would be helpful.

Comment on Vestar legal case – Luscombe v O’Sullivan, Syms, Purvis, Gaylard, Jackson, Swain, Curtin and Perris by VoV

VoV — Mon, 28 Nov 2011 07:20:58 +0000

@Donna
You are very wise to take anything any former Vestar advisor says with a grain of salt. They’re all ducking for cover and pointing the finger elsewhere and desperately trying to avoid liability. So much so that it’s difficult to know where the truth lies. I wouldn’t trust what any of them say.

Comment on Vestar legal case – Luscombe v O’Sullivan, Syms, Purvis, Gaylard, Jackson, Swain, Curtin and Perris by VoV

VoV — Mon, 28 Nov 2011 07:16:27 +0000

@James
It sounds to me like whoever you’ve been speaking to is trying to weave irrelevant and tiny technicalities into the story to preserve his reputation. My reading of the case does not support the view you’ve arrived at.

Comment on Vestar legal case – Luscombe v O’Sullivan, Syms, Purvis, Gaylard, Jackson, Swain, Curtin and Perris by Donna

Donna — Mon, 28 Nov 2011 06:51:06 +0000

@James, Our case was against the insurers QBE. Our ‘adviser’ ( I use the term loosely) was Dillon O’Sullivan. Our portfolio was ‘diversified’, ( I use that term loosely too) with over 50% in Finance Companies and we were in a ‘conservative’ portfolio. We are now with an honest adviser who does not tell lies unlike the former one. That is my experience. If I was taking any comment from any former Vestar ‘adviser’, I would take anything they say with a grain of salt. Once bitten, twice shy!

Comment on Vestar legal case – Cornwell v Syms, Purvis, Curtin and Perris by M & M

M & M — Mon, 28 Nov 2011 03:21:56 +0000

So if one is told that ones investments are underwritten by Lloyds of London we take it to mean that is not true.

So does that mean it was a High Risk investment even if the advisor knew one to be a low risk investor, yet for some financial gain on someones part that small incidental was conveniently over looked?

Win win for Vestar and lose lose for investors.
Win win for advisors and lose again for investor.
Yes things are certainly looking up for investors, seems like there was never any hope. So what money is left we just shut up and keep it in out pockets, the only ones gaining from court cases are guess who?

Comment on Vestar legal case – Luscombe v O’Sullivan, Syms, Purvis, Gaylard, Jackson, Swain, Curtin and Perris by James Parker

James Parker — Mon, 28 Nov 2011 02:03:56 +0000

I used a vestar adviser, and still do, (now with another company I had over $400k in finance companies, some (small amount) has been returned. After reading this I spoke to my adviser. It appears Vestar was not “enganged” by Luscombes, ie did not have a contract as we did. We had a diversified portfolio, equities, fixed interest property, Luscombe refused same. This case has more twists and turns. I looked at the possibliity of legal proceedings but was told may spend lots to go no where. And to Donna, I know for a fact that Dillon O’Sullivan has not had any judgement made against him, i.e he has not won, (nor lost) any case against him, its on-going.

Comment on Vestar legal case – Luscombe v O’Sullivan, Syms, Purvis, Gaylard, Jackson, Swain, Curtin and Perris by Donna

Donna — Mon, 28 Nov 2011 00:04:43 +0000

Once again, the court system fails! I wonder if they had the same judge as us in our failed attempt at bringing someone into account. The judge we had on the day was orbiting a planet, far, far away when he ruled in QBE’s favour. I feel very sorry for anyone who has been through a ‘miscarriage of justice’ in this manner. I do not know how Dillon O’Sullivan can look himself in the mirror and do the job he does, knowing full well the devastation he has caused to so many people. He may have won the case, but his tainted reputation is another issue. In my opinion, his financial adviser statement should read ” No Care, No Responsibilty’.

Comment on Vestar legal case – Luscombe v O’Sullivan, Syms, Purvis, Gaylard, Jackson, Swain, Curtin and Perris by Ann Empson

Ann Empson — Fri, 25 Nov 2011 19:31:06 +0000

I agree Mike. You are quite right. The finance company debacle is beyond comprehension and the courts decisions so far have not been good. You will find that it is a question of who knows who and this being a small country most wealthy will be friends with one another.
The case above is very sad. I do feel for the Luscombe family. We too have been robbed by the finance company “crooks”. Having said that, today, depending on the outcome of the election the whole of New Zealand could end up being robbed. Enough said.

Comment on Vestar legal case – Armitage v Church by Alan

Alan — Fri, 25 Nov 2011 06:37:05 +0000

Thanks for the response gentlemen which confirms my own impressions. Given the behaviour (allegedly) of many of these people, it is hardly surprising that their insurance companies are refusing liability.