Promotion of Accounting Reform as the most effective Pathway to a Fairer Safer and more Prosperous Society. Comment and Support from all quarters is Sought to straighten out NZ's problem

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January 2014 Edition

A happy new year to all our readers. We wish you a honest fair NZ Government but that would seem to be somewhat away.

We expect the court case action being taken by a large number of Feltex Carpets Ltd lead by Eric Horton is due to be heard from mid March this year but there are still preliminary matters before the Supreme court which could hold things up one supposes.

The case is due to be held in the Wellington High court under Justice Dobson we understand. Until recently it was being managed from the Christchurch High Court under Justice French. We think this Justice may have chickened out.

The appellant shareholders have a Christchurch QC Austin Forbes still representing them as far as we know although there seems to have been no mention of him for some time.

We believe this so-called shareholders action is itself a scam, instigated by the instigators of the 2004 IPO scam (which includes senior Government and opposition leaders of the time) to divert shareholder fury and so protect these highly criminal culprits.

I little more evidence is emerging of corruption at ACC (NZ’s Accident Compensation Corporation) from around the year 2003. The Labour Government was then into its second term at desperately looking at ways that it might earn a third term. The huge ACC investment pool was just too tempting.

This first article indicates that new Government appointed directors at the Corporation invariably carries with it a secret change in policy as well.

Then we have this more revealing payment to certain bodies to do some training courses. The Justice Minister could not resist having a dig at this has got herself mixed up in it. She has a duty to tell the full story about ACC willfully subscribing to the worthless Feltex IPO etc.

And the natural reaction to our exposure of the Feltex IPO scandal has brought about this article. The way to stay out of trouble is to go further and further up the political scale if one can.

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 The scandalous Audit Cert of the 1990 BNZ annual accounts - Take a Look from Here And then learn about the Securities Commission here who reported on the affair. We also background the role of the Institute of Chartered Accountants of NZ in ignoring the affair. It might go back 10 years but many players still maintain high office, collectivly protecting themselves at the expense of others. 
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