Found Deceased Australia - Melissa Caddick, 49, Sydney, NSW, 12 Nov 2020 #7

[JLZ]

Nicholas Bender seems to have particular experience as a lead in class action litigation. As contradictor, he should be able to do enough to balance things out for the investors.

It certainly seems that it is going to be a battle of the barristers. Is Bender going to be paid directly out of investor funds?

I'd like to know who the taxpayer is paying for here. Assaf? Bender?


He has particular experience acting as lead or sole counsel for individual director defendants in class actions and regulatory proceedings, including large and complex cases.
Nicholas Bender | Barristers | Banco Chambers

The contradictor is representing Melissa's interests.

"The court ordered in May that a “contradictor” be appointed to represent the interests of Ms Caddick."
Melissa Caddick’s parents stake claim in $2.5 million Edgecliff penthouse

 

[SLouTh]

Nicholas Bender seems to have particular experience as a lead in class action litigation. As contradictor, he should be able to do enough to balance things out for the investors.

It certainly seems that it is going to be a battle of the barristers. Is Bender going to be paid directly out of investor funds?

I'd like to know who the taxpayer is paying for here. Assaf? Bender?


He has particular experience acting as lead or sole counsel for individual director defendants in class actions and regulatory proceedings, including large and complex cases.
Nicholas Bender | Barristers | Banco Chambers

Bender, the Contradictor, is being paid for by ASIC ..... so yes taxpayers in a roundabout way ....

Bender is definitely representing the interests of Melissa C, as per JLZ's post...... and not those of the Investors

Assaf paid by ASIC

Assaf SC was the only one attempting to stand up for the investors.....

 

[SouthAussie]

The contradictor is representing Melissa's interests.

"The court ordered in May that a “contradictor” be appointed to represent the interests of Ms Caddick."
Melissa Caddick’s parents stake claim in $2.5 million Edgecliff penthouse

My mistake. I saw that Bender was good at class actions, so my thought jumped immediately to the investors.

So, essentially the investors have no-one independent. Seeing that Assaf is representing ASIC's interests first and foremost.

Bender, the Contradictor, is being paid for by ASIC ..... so yes taxpayers in a roundabout way ....

Bender is definitely representing the interests of Melissa C, as per JLZ's post...... and not those of the Investors

Assaf paid by ASIC

Assaf SC was the only one attempting to stand up for the investors.....

Taxpayer funded litigation. Well, that's nice for the rest of us that expensive barristers (Assaf and Bender) are involved.
.

 

[SLouTh]

So, essentially the investors have no-one independent. Seeing that Assaf is representing ASIC's interests first and foremost.

True SA, but to Assaf's credit he did fight hard for the investors....

And sadly, the Investors didn't have representation, as most likely it was cost prohibitive for them.....

I am not familiar enough with the Federal Court to know if it is too late for the Investors to inject a Barrister, at this late stage?

 

[SouthAussie]

True SA, but to Assaf's credit he did fight hard for the investors....

And sadly, the Investors didn't have representation, as most likely it was cost prohibitive for them.....

I am not familiar enough with the Federal Court to know if it is too late for the Investors to inject a Barrister, at this late stage?

Personally, I resent all of us taxpayers paying for such high priced barristers. When what is required is a forensic accountant and a whole lot of common sense.

This whole thing has turned into a debacle. I could think of a few hospitals and aged care facilities that could use these taxpayer dollars.

 

[SLouTh]

unless the court has decided that we are paying for him also. (Highly possible.)

The plaintiff is to pay the costs of the Contradictor in preparing for and making submissions on behalf of the first defendant as contradictor.
NSD1220/2020 Orders 24 May 2021 (fedcourt.gov.au)
Plaintiff is ASIC

 

[SouthAussie]

The plaintiff is to pay the costs of the Contradictor in preparing for and making submissions on behalf of the first defendant as contradictor.
NSD1220/2020 Orders 24 May 2021 (fedcourt.gov.au)
Plaintiff is ASIC

Yes ... I re-read your previous post, and already edited my post. Thanks.

 

[SLouTh]

Personally, I resent all of us taxpayers paying for such a high priced barrister. When what is required is a forensic accountant and a whole lot of common sense.

Agree wholeheartedly about needing a forensic accountant .....

Personally, I don't mind, (being a tax payer) paying for Assaf...... as if I was an Investor, I would expect ASIC to hire a specialist in the field.....
And Assaf did his junior years as a solicitor for ASIC .... he has done his time for the taxpayer, IMO....

 

[SouthAussie]

Agree wholeheartedly about needing a forensic accountant .....

Personally, I don't mind, (being a tax payer) paying for Assaf...... as if I was an Investor, I would expect ASIC to hire a specialist in the field.....
And Assaf did his junior years as a solicitor for ASIC .... he has done his time for the taxpayer, IMO....

It's all a big waste of time and money (our money now, too). Sell the assets, give the investors back as much of their money as possible.
Give Melissa's folks the same percentage of their proven funds. Be done with it.
This should have been done months ago.

It is a sad tale and there will be no-one who will get all of their money back.

 

[SLouTh]

But Mr Bender argued liquidators should instead be appointed to pore over and investigate the finances of Maliver, while the parties await the outcome of a coronial inquest.

When what is required is a forensic accountant and a whole lot of common sense.

What I don't understand is why should it take "liquidators" to be appointed, to fully investigate the finances???? Shouldn't that already be happening as part of the main investigation??? By a forensic accountant??

 

[JLZ]

What I don't understand is why should it take "liquidators" to be appointed, to fully investigate the finances???? Shouldn't that already be happening as part of the main investigation??? By a forensic accountant??

There are different levels of creditors and they get paid in a specific order, and it's a different situation according to whether the company owes or the individual. Investors will come last I think.

 

[SLouTh]

Nicholas Bender seems to have particular experience as a lead in class action litigation. As contradictor, he should be able to do enough to balance things out for the investors.

It certainly seems that it is going to be a battle of the barristers. Is Bender going to be paid directly out of investor funds?

I'd like to know who the taxpayer is paying for here. Assaf? Bender?


He has particular experience acting as lead or sole counsel for individual director defendants in class actions and regulatory proceedings, including large and complex cases.
Nicholas Bender | Barristers | Banco Chambers

Bender was actually very impressive in his arguments as the Contradictor...... he certainly took his role as defending MC's interests very seriously...... IMO

Not so good for Investors though .... I do wish the Investors could have had a Barrister present to independently "counter" his arguments...

The Judge certainly has a difficult decision to consider... legally, that is .... even though, as you say, common sense should prevail!

 

[SLouTh]

There are different levels of creditors and they get paid in a specific order, and it's a different situation according to whether the company owes or the individual. Investors will come last I think.

Yes true......

I was trying to point out the "investigating the finances" part of the statement..... as I felt this should have already been done....

 

[JLZ]

Yes true......

I was trying to point out the "investigating the finances" part of the statement..... as I felt this should have already been done....

Is that also what you understood from listening to the hearings, that there was more investigation still to be done? I think the job of a liquidator is to turn assets into cash, so sell what can be sold, recover anything owing to the liquidated party.

 

[SLouTh]

Is that also what you understood from listening to the hearings, that there was more investigation still to be done? I think the job of a liquidator is to turn assets into cash, so sell what can be sold, recover anything owing to the liquidated party.

That is what I am trying to work out .......... I agree with you re the "liquidators" role ....

So why would Bender say that??? The only thing that stood out to me was that he was "protecting" the personal estate of MC ... that was very clear..... IMO
He implied that the personal estate of MC didn't need to be liquidated as it was still financially viable.....

Bender only suggested that Maliver be liquidated ..... and investigated further.....

Where as Assaf wanted the entire estate (MC and Maliver) to be liquidated ....

 

[Redrunner]

Bender, the Contradictor, is being paid for by ASIC ..... so yes taxpayers in a roundabout way ....

Bender is definitely representing the interests of Melissa C, as per JLZ's post...... and not those of the Investors

Assaf paid by ASIC

Assaf SC was the only one attempting to stand up for the investors.....

And he will do a very admirable job.

 

[Redrunner]

It's all a big waste of time and money (our money now, too). Sell the assets, give the investors back as much of their money as possible.
Give Melissa's folks the same percentage of their proven funds. Be done with it.
This should have been done months ago.

It is a sad tale and there will be no-one who will get all of their money back.

But we know it doesnt work like that.

 

[SouthAussie]

But we know it doesnt work like that.

We do now. In this case.

Although I feel pretty sure that all of these fraud cases do not get dragged through court to determine who gets what, and when they get it. That high priced barristers do not get allocated to all of the fraud cases.

I know that I have mentioned before that I have seen on the ASIC site the volume of fraud cases. There are a lot of them.

Melissa was obviously mixing funds. Blind Freddie can see that. She spent far more than her 1.5% commission/income.

So that would mean that all of her assets are up for sale and redistribution of the funds. They don't need high priced barristers dragging this out for their own salaries (on our dollars). Claiming that Melissa's assets are personal and not to be included with Maliver's assets.

I find it quite irritating that the judge does not exude more control. The accounting has been done (as much as possible). Sell the assets, pay the banks and the liquidators, then divvy up the money.
Whether Melissa is alive or deceased is not relevant to this civil case any more. She has criminally frauded everyone, mixed the funds. That has been established already.

And if Melissa has been murdered, that is a whole other - separate - matter. A murder case.

 

[JLZ]

We do now. In this case.

Although I feel pretty sure that all of these fraud cases do not get dragged through court to determine who gets what, and when they get it. That high priced barristers do not get allocated to all of the fraud cases.

I know that I have mentioned before that I have seen on the ASIC site the volume of fraud cases. There are a lot of them.

Melissa was obviously mixing funds. Blind Freddie can see that. She spent far more than her 1.5% commission/income.

So that would mean that all of her assets are up for sale and redistribution of the funds. They don't need high priced barristers dragging this out for their own salaries (on our dollars). Claiming that Melissa's assets are personal and not to be included with Maliver's assets.

I find it quite irritating that the judge does not exude more control. The accounting has been done (as much as possible). Sell the assets, pay the banks and the liquidators, then divvy up the money.
Whether Melissa is alive or deceased is not relevant to this civil case any more. She has criminally frauded everyone, mixed the funds. That has been established already.

And if Melissa has been murdered, that is a whole other - separate - matter. A murder case.

Perhaps the judge is minded to do just that, and has appointed the contradictor to ensure the decision is logically and legally robust--has been tested against the best arguments that can be made. No judge wants their work overturned on appeal.

 

[SouthAussie]

Perhaps the judge is minded to do just that, and has appointed the contradictor to ensure the decision is logically and legally robust--has been tested against the best arguments that can be made. No judge wants their work overturned on appeal.

Who are you envisioning appealing? The contradictor is representing Melissa, personally.