I see you mentioned a vote on May 16th, I haven’t received anything from them about it. Did they include a package about the details. Was it sent my email or post?
I will try to keep my post short. I am also frustrated with my dealings with them. I have written to them and to ASIC but didn’t get anywhere with either of them. I too would like to talk with other investors, my first thought was the vote would be a resounding no to the changes to the plan. Why would anyone want to get into another scheme with them when they have done such a poor job with this one. My advisor seems to think that people do want out but are afraid a no vote would force a wind up and that a yes vote might be a cleaner way to get out. I would like to know what others think about a no vote. Maybe some information about that is in a package sent to investors but I don’t have it.
I think there are grounds to remove them as the responsible entity. According to ASIC, for frozen funds if there is a conflict between the members’ interests and those of the responsible entity, they must give priority to the members’ interests. I don’t think they give any priority anyones interests but their own.
So how do we meet, how do we get LM to hold an Investor Forum on this matter.
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Lm Investment Management
in Jobs, Economy, Banking, Business, Investments
Posted
I see you mentioned a vote on May 16th, I haven’t received anything from them about it. Did they include a package about the details. Was it sent my email or post?
I will try to keep my post short. I am also frustrated with my dealings with them. I have written to them and to ASIC but didn’t get anywhere with either of them. I too would like to talk with other investors, my first thought was the vote would be a resounding no to the changes to the plan. Why would anyone want to get into another scheme with them when they have done such a poor job with this one. My advisor seems to think that people do want out but are afraid a no vote would force a wind up and that a yes vote might be a cleaner way to get out. I would like to know what others think about a no vote. Maybe some information about that is in a package sent to investors but I don’t have it.
I think there are grounds to remove them as the responsible entity. According to ASIC, for frozen funds if there is a conflict between the members’ interests and those of the responsible entity, they must give priority to the members’ interests. I don’t think they give any priority anyones interests but their own.
So how do we meet, how do we get LM to hold an Investor Forum on this matter.