Some Advice Needed Please

RogerthatNinerone

Bubba -

Does Moralltach involve itself in the day to day leasing etc of the properties in any way? Just interested to know their level of control

I don't know to be honest

I thought they went into merger with William Marshall then Red Spear took over So is Moarlltach still Moralltach ?

https://carlow-nationalist.ie/2020/06/30/local-businessman-claims-he-was-threatened-by-the-vipers-debt-collection-firm/

Dodgyone

William Marshall deal did not happen most likely as they did their due diligence and did not like what they saw!

So Moralltach is still Moralltach!!

Moralltach have no income which in itself makes no sense if they have a huge portfolio of properties!

Their involvement in day to day leasing is proportionate to the amount of properties they have on the property register. ZERO.

RogerthatNinerone

They obviously have some contractual claim/tie to the properties. Be interesting to know what level of control they have over property owners.

Dodgyone

Some type of contract yes. Something that you and I could draft, set up a company, get all our neighbours to sign and then claim to have a huge property portfolio.

When they where delisted from the Australian Stock Exchange for non compliance and transparency And did not show what they where asked as in details of all properties that they claimed to have in their portfolio At this stage as far as i know they working on their portfolio all the fine details to list on the Stock Exchange in UK . Regarding William Marshall plc they where delisted off the Cyprus Stockexchange for non compliance So Moralltach and William Marshall established a top company Redspear which is jointly owned by Marshall and Moralltach. 31 March 2020 Redspear where suspended for a year trading by Dubi Financial Services Authority DFSA for seriously concerned about its Financial services. Feb 2021

Dodgyone

Sounds like a merger would have been a match made in heaven!

🤣😂🙈

Any up dates

Dodgyone

Same as last 5 years - hot air and bluster

ScamAtak

I just realised there have been no audited accounts filed at the Maltese registry for a very long period of time. However, I have come across an investor who said they were going for a float and had actually bought shares in the last 18 months and had been promised a set of audited accounts. They are still not forthcoming. How can they go for a float any where without a set of accounts? There are also no properties registered under their name. I also here that a creditor is commencing proceedings to wind the company up plus there is a meeting being set up with the Maltese Financial Crime Unit. But why? Anyone got any answers on any of this?

Veritas26

No audited accounts ever filed in Malta since the company was incorporated actually!

Interesting to see who wins the race to close down the company - creditors, crime units or regulators.

Feel sorry for anyone that invested any money in the company.

Would not want to be a Director of the company right now!

I don't think there would be any properties in their name. The whole idea was to payoff the banks for destressed Mortgages and you pay back a lease fee ( which happens to be more than your Mortgage repayments figure that one out ?) As far as I know the deeds don't go to them that was what my friend was told when she was going to go for it. When she asked who will have the deeds her answer was well neither you are us .Yet you can sell your Property after 15 years a market Price from them or release. That was when it all started fist 2016 so god knows where all this property investments went.

Veritas26

I think you are correct Bubba in that they have NO properties in their name. Yet they still tell investors who pay cash for stock and in their failed IPO in Australia that they have a huge property portfolio. They don’t. This is why they cannot get an audit done, cannot borrow money, cannot IPO!

So yes if they pay off the banks then they could have a property portfolio just like you or I could.

Dodgyone

And this is being dishonest to investors.

#whitecollarcrime

Sure is we awite the out come

Any more up dates.

Dodgyone

They are being chased by multiple creditors and legal action is being pursued in several jurisdictions.

Dodgyone

And of course they continue to tell everyone that an IPO is just around the corner, they are sitting on a gold mine and they will make all their investors instant billionaires.

Yes they still believe in the dream if it was so real we would all be doing it. Is the legal action in this country or all over.

Dodgyone

All over including here in Ireland

Any news on listing in the Uk

Dodgyone

I think they will find it hard to list with

a) the track record of the directors

b) failed listing in Oz

c) no revenue

d) no assets

e) no money

f) multiple court cases

g) lack of credibility

Multiple court cases how come this company has not been exposed

Dodgyone

As no criminal investigation as of now.

Only creditors chasing their funds.

Expulsion from Australian stock exchange was them getting exposed.

Wonder how much money people invested in cash and do they have a chance of getting it back . Who is the CEO now ids it Kiernan Brenan's Son.

Veritas26

Several million I suspect. No financial institution would lend to a company without audited accounts for 6 years. All the money spent which is why they cannot pay creditors.

So the question is was misrepresented information used to convince investors to part with their cash.