10 December 2014
Your Investor Committee is seeking information from Unit Holders which can be used to support a possible submission to a Federal Government Joint Parliamentary Committee on the lead-up to and subsequent collapse of City Pacific Limited and its effect on the City Pacific First Mortgage Fund. Please note that the information sought is only for the period prior to June 2009 while the fund was being managed by City Pacific Limited.
We are seeking details on any Unit Holder communications with Government and corporate entities expressing concerns about the operations of City Pacific First Mortgage Fund.
This is a general search for information rather than a specific focus on an individual organisation. We are seeking written correspondence, oral conversations (where reference numbers may have been assigned) and emails. Relevant bodies would include ASIC, ACCC, consultants, auditors, Commonwealth Bank and other banks. We would also be interested in copies of newspaper clippings and articles, dealing with City Pacific Limited and the Fund during this period.
There has been much public debate and exposure about the collapse of organisations such as Storm Financial and Fincorp, but practically nothing about City Pacific.
We believe there is much to be learned from the Unit Holders concerning our significant financial plight and the background to the collapse of City Pacific. An appropriate public airing would seem appropriate if for no other benefit than to prevent such a deplorable set of circumstances arising in the future.
Your Investor Committee has met on this matter on a number of occasions. It is important that we obtain the records whilst they are still available.
We seek this information over the next two months.
Please provide to Ken Atchison via email on Ken@atchison.com.au or via post on Level 3,155 Queen Street Melbourne Victoria 3000