Report : Ted Baxter

Content : ASIC & Corporations Law, Storm clients, CBA errors, ASIC Hugh Copley, ASIC authority

Sunday 15th April 2012

A further example of Storms plea’s to ASIC to save clients from CBA’s stranglehold has been uncovered by The Plain Truth. A file note recording a conversation with ASIC by one of Storm's female executives on the day that Storm went into administration has been sent to The Plain Truth.

The file note made on the 9th Jan 2009 by a Storm executive points to a conversation this executive had with ASIC’s Hugh Copley. The writer of the note expressed concern to ASIC pointing out that numerous errors were contained in CBA’s calculations about the amounts owed to CBA by various Storm clients. Although Hugh Copley knew that ASIC regulated all aspects of Corporation Law with respect to the bank, he chose to follow orders and protect the bank at all costs by simply dismissing Storm's concerns out of hand. Hugh Copley’s statement that ASIC did not regulate the banks was not only deceitful and a clear lie but also disrespectful and arrogant in the face of the catastrophe which CBA inflicted on Storm's unsuspecting clients.

Following is a copy of the file note:

The above disregard by Hugh Copley of all CBA related cover-ups is consistent with numerous such cover up's by ALL LEVELS OF ASIC. A further simple example of this occurred in Dec 08 when CBA approached ASIC and complained. The substance of the complaint was that  Storm did not advise clients to consider the consequences of requesting 14 days to consider CBA's mistaken demands rather than the 48 hours the CBA was unreasonably insisting that all negative equity be cleared by'. This assertion by ASIC was so absurd that it defied all logic unless it was viewed in the context of ASIC covering for CBA. Documents obtained by The Plain Truth from sources inside the liquidator's offices clearly show that Storm's advice was both reasonable and proper in the circumstances.

Below are emails sent by Storm to its clients.

Example 1 ' Storm email to a client advising them to ask for the CBA details in writing and to request 14 days to consider their position. (ASIC clearly believed that the CBA should not have to justify its demands on clients nor give adequate time for these inaccurate demands to be considered. So much for ASIC protecting the consumer).

Example 2 ' Storm email to a client. The contents is self explanatory and The Plain Truth would be very interested could point out what could possibly with the advice contained in this and the above email.

For those of you interested in holding ASIC's Hugh Copley to account here are his contacts:

[email protected]
07 3867 4700
0434 565 199

If Hugh is not available try any of the following…

*It may be worth noting that the Brisbane office of ASIC is located within the Commonwealth Building in Queen Street.

Note from the Editor:

The Plain Truth wishes to thank all the individuals who have sent material in to us. Please keep it coming. Each piece of information has been a most valuable piece of what is a very intricate jigsaw puzzle. Without your information at our disposal, some of which we know was extremely difficult to obtain, we would not be able to keep constructing the jigsaw nor most importantly would we be able to determine what is fact and what is fabrication. An unforseen benefit of having facts at ones fingertips is to enable us, once fact and fiction are separated, to determine various agendas and see who is playing the ball and who is playing the person.

The Editor
The Plain Truth,
PO Box 2783
New Farm QLD 4005

Content : ASIC & Corporations Law, Storm clients, CBA errors, ASIC Hugh Copley, ASIC authority

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