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.
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.