Attention: PIPC investors
Here's an appeal by pipccorpstaff, PMT member and apparent staff of Performance Investments Products Corp. (PIPC), to PIPC investors regarding the receivership letters intended for the financial forensics company hired to help in the investigation.
Post lifted from the PIPC discussion thread in the PMT Forum.
We need help.
To all investors and those who know some investors, please be informed that we need people to sign receivership letters for Ferrier Hodgson (FH). This is everyone's best chance of finding [Michael Liew and recovering the funds]. While we have already received some letters this remains a small fraction of the estimated number of investors.
We are having a case of "I'm sure everyone else is doing it so I'd rather not sign and wait for them to get results." How can there be results if we cannot get [Ferrier Hodgson] assigned by the courts to do their jobs in the first place.
As to suggestions FH will just run away with the money, please check their profiles again. This is their business. They have done work for others involving far larger sums before. Having seen them in action I do think there is no one else better in the business for doing this. Even banks highly recommend them.
Note FH is not working for the company or for Tina Tuason. When appointed, they will be representing all the investors and subject to the overview of an investors committee, which you guys could be a part of.
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Again please help us in doing the best we can for everyone.
But another member, wondering, is truly wondering why, in the receivership letters, investors are referred to as "creditors" and not "investors." "Aren't we investors?" wondering asks.
In one of the letters that we are supposed to sign, it is stated "CREDITOR" instead of "INVESTOR". Aren't we investors? Here is the paragraph. I may want to clarify this with my lawyer first.
I understand that I may be a creditor of PIPC/PIPL. Moreover, I understand that it may be possible to appoint Provisional Liquidators, Liquidators or a Receivers ("an Office Holder") under the insolvency legislation of Hong Kong in order to preserve the assets and investigate the affairs of PIPC and/or PIPL.
Am a little bit skeptical, not too sure about the leadership of Tuason at this point. She found out about this scam July 9 and only came out in the open on July 18. What happened during those 9 days?
Makes me wonder!
To know the latest on the PIPC issue, read the article Updates on the PIPC scandal posted on July 30 or join the discussion in the PIPC discussion forum.
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August 2nd, 2007 at 7:22 pm
Obviously upon finding out about the scam, she had to confirm whether it was true, discuss the legalities, and plan a course of action. She can’t very well step in front of a news camera and say “PIPC investors, we have lost your investments,” can she?