Reporter : Tricia Takanawa

Content : Levitt Robinson, Stewart Levitt, Storm UMIS, ASIC Compensation model, CBA margin loan, Sean McArdle

Tuesday 21^st May 2013

The Plain Truth tagline from our humble beginnings, on every article, on every screen reads – “There is no Justice without Truth”.  We know the following is a cliché and in spite of our dislike of clichés in general, we have no better way of putting it than to say – “THE TRUTH AND ONLY THE TRUTH WILL SET YOU FREE”.

The publication of this article, the first since we have set up more comprehensive security to protect us for the vicious cyber attacks we have been experiencing, has caused much consternation, debate and soul-searching within our group.  The reason for our inner turmoil has not been the content or the facts we wish to point out, but rather the distress that may be a consequence of pointing out the facts.  Nevertheless, in the end common sense prevailed and whilst we understand our news articles paint certain people into a corner, right must always prevail over wrong.

The Truth emerges from viewing ALL of the facts of a matter.

A lie emerges from viewing – anything less than ALL the facts of a matter.

We are sufficiently across human nature to understand that it has unfortunately become a normal reaction for someone to do any action or utter any word in order to save themselves from drowning.  We are not here to judge such individuals BUT when their actions are so self serving and so damaging to the truth, to other people as well as the greater good, we find ourselves compelled to speak out.

In the current Stewart Levitt / Levitt Robinson class action being heard in the Federal Court in Brisbane with Justice Reeves presiding, former Storm client Sean McArdle gave evidence on his own behalf and under the direction of Stewart Levitt in which he clearly contradicted himself and contradicted the documentary facts.  Sean’s instinct to make it up as he went along and to re-construct evidence in order to support his case for the purpose of surviving, is consistent with the way some other former Storm clients and advisors have given their evidence to not only the courts, but also ASIC and the liquidators.

A case not founded on the truth but rather relying on SOME OF THE FACTS, some outright false evidence and perverse technicalities must ultimately be weak, likely to not succeed, and if it does can only give a very poor outcome.

The best outcome is a just outcome and a just outcome can only emanate from a recognition and acceptance of the truth.

WHAT IS THE TRUTH WITH RESPECT TO ANY CLAIM AGAINST THE CBA?

• The CBA was a provider of credit to many people (nothing to do with a UMIS).
• The CBA failed to provide its borrowers and Storm with accurate data with respect to their margin loan accounts (nothing to do with a UMIS).
• The CBA failed to issue margin call notices either to Storm, its advisors or its clients (nothing to do with a UMIS).
• The CBA without authority and without issuing a notice sold down borrower portfolios (nothing to do with a UMIS).

There exists no evidence to show that there was a UMIS.  Rather the correct case against the CBA revolves around its product failures for which it is entirely responsible.

Given the amount of emphasis being relied of a UMIS by both ASIC and Levitt Robinson, The Plain Truth is open to the possibility of such a thing having existed.  All evidence collected to date by us and other ‘evidence’ presented in court so far does not prove that a UMIS existed and in fact goes a long way to proving the contrary argument.  Accordingly we are asking for anyone who is able to explain the rationale behind the belief that a UMIS existed, to do so.

The Machiavellian rational that the end justifies the means has no place in our society and can not lead to a just outcome.  It can be seen in the multitude of transcripts from the Federal Court that the main benefactor from the evidence presented against the CBA…has been the CBA itself.

The Editor

The Plain Truth,

PO Box 2783

New Farm  QLD  4005

Content : Levitt Robinson, Stewart Levitt, Storm UMIS, ASIC Compensation model, CBA margin loan, Sean McArdle