Investors will demand deliverance of Bill of Rights

Investors must demand deliverance of the Bill of Rights, as Authorities are responsible without doubt for the Finance Industries lack of compliance and many Directors and shareholders are walking away with other people’s money.

AND

Authorities continue to deny responsibility to act over finance company collapses.



Such a stance is a blatant abdication of their statutory duty.



With approximately 50 troubled Finance companies responsible for the loss of investors money, it is intolerable that investors funds have not being traced.



As an example (while not intending to single out Bluechip from the inherent malpractices of the Finance Industry at large). The following demonstrates that investors have been denied the right to the legal protection of the States offices of compliance.



Blue Chip



It was reported that in 2001 Mark Bryers “fought off Bankruptcy proceedings after a string of property company collapses,....”



In August 2004, Journalist Duncan Bridgeman wrote the following link/story. A MUST read to make sense of the rest of this email.



http://www.sharechat.co.nz/article/144bc625/entrepreneur-bryers-turns-blues-into-chips.html



Subsequent to the article, the current charges to which Bryers has pleaded guilty too in relation to his Blue Chip scam, were reported on 23 February 2010, by Kelly Gregor of the NBR as follows;



Charges: Bryers was initially charged with 135 offences. The 31 charges Bryers plead guilty to will be joined with the three charges he plead guilty to in October 2009.



The 34 charges include failure to keep adequate company records, failure to keep records at a company’s registered office, failure to attend a watershed meeting and failure to complete and sign financial statements within the given time frame.



Bryers pleaded guilty to 27 charges under the Financial Reporting Act. These relate to failures to complete and sign financial statements within the given time frame.



EUFA question why the authorities failed to police Bryers. (The same question must be asked over every troubled finance company)



What have the NZ Officials been doing since 2001 to monitor Bryers business practices?



Did the authorities’ investigations only go as far as reading the “Share Chat’ article?



Were they just complacent because ex Members of Parliament held senior positions in Blue Chip? (similar to many other boards of shonky finance houses)



What investigations did they do?



Where has the investor’s money gone?



Who’s account has it been credited to?



How will investors get a resolution?



A Statutory management and an official inquiry is required.



(Early in 2008 EUFA advised the liquidator, Jeff Meltzer and the Minister of Commerce, Hon Lianne Dalziel, to immediately enforce the full force of the insolvency act on Mark Bryers and take

control of all the money he controlled. EUFA also called for Statutory Management, but the Liquidator and Minister foolishly believed Bryers promise to produce millions of dollars for investors

in the (then) immediate future)



Currently the Liquidator, Official assignee, Companies office and Serious Fraud office are all investigating Bluechip and/or Bryers AND still no relief for the thousands of victims of Bryers malpractice.

(The promised money never turned up. A very, naive Liquidator and Minister indeed! )



Furthermore, an investigation into the statutory bodies failure to provide protection by abdicating their statutory obligations must be demanded.

(This demand must be extended to include all the troubled finance companies)



When a plane crashes, why is it so important to look into the ‘black box’? Surely it’s too late, the plane has crashed. But we all know that finding the ‘black box’ is paramount to enable the

cause to be identified.

I.e. what factors caused the crash?

Was there negligence involved?

Who is liable?

What remedial action is required to Prevent another tragedy?



To the contrary, following the financial crash, after two years of blundering and navel gazing there has been no investigation into cause, neglect, liability, remedial action or adequate prevention

of another crash. Remember the Mount Erebus tragedy and the litany of lies that followed.

Universally the State Authorities have purposefully refused to look for the ‘black box’, made no effort to secure investors money from further loss and made little effort to establish liability.



The investors real money hasn’t been traced; it didn’t just go down the gurgler, so where is it now?



There are clear legal provisions to enable funds to be extracted from trusts etc. Where there are irregularities such as in the case of BlueChip and several other Finance Companies,

it is the mandate of the Liquidator or Receiver to take appropriate legal action to secure all remaining funds."



More Questions

So what are the Liquidators and Receivers doing to claw back this money?



They are also bound by statute, so who is enforcing that they are compliant?



Are we stupid and naïve or have we simply lost sight of the ball?



Who is auditing the recovery process?



The Authorities

Why does it seem that EUFA is “picking” on the Government, the Securities Commission, the Commerce Commission, the professional bodies etc?



It is because, in the aftermath of the 1987 share market crash, new legislation was introduced to prevent a repeat.



International agreements clearly attest that it is not the citizen’s responsibility to enforce the law it is the states common law obligation to uphold the law for all citizens.



The Authorities appointed to deliver compliance enforcement on behalf of the State are bound to comply by statute, under the NZ Bill of Rights Act 1990.

(The powers that be are ignoring the Bill of Rights – yet they never ignore the Bill in street crime)



The NZ Bill of rights states:



The NZBORA is affirmed to NZs commitment to the International Covenant on Civil and Political Rights.



[Thereby (by affirmation) to the Universal Declaration of Human Rights]



NZBORA states in Part 1



3. Application – This Bill of Rights applies only to acts done-



(a) By the legislative, executive, or judicial branches of the government of New Zealand; or



(b) By any person or body in the performance of any public function, power, or duty conferred or imposed on that person or body by or pursuant to law.





In total disregard of which, robbed investors of the various finance Industry and Bluechip collapses are fobbed off and discredited, while officialdom continue to deny that it is the States obligation

to protect and deliver justice to them?



Quoted from:



“Butterworths New Zealand law Dictionary, 5th Edition”, written by Peter Spiller – Professor of law, University of Waikato.



* Misfeasance: The tort consisting of a public officer causing damage to a plaintiff, by either a deliberate act or omission actuated by malice or a deliberate act knowingly in excess of

official powers, in circumstance where such officer knew or ought reasonably to have foreseen that the deliberate conduct would cause damage to the Plaintiff.

* Nonfeasance:The omission or failure by person or public body to do something which that person or public body has agreed or is otherwise liable to do.

The various Authorities and officials cannot continue to dismiss reality and mislead the public further by claiming they are doing their job while the elected Government has a clear

obligation to ensure the States International covenants are honoured.



Every New Zealander is entitled to common justice, therefore how long will it take to have the affects of these multibillion dollar rorts remedied.



Wars were fought for our free society; therefore we must demand those incumbents with the duty to deliver justice to do their job.

www.eufa.co.nz