Letters to NAB Wealth General Counsel

A substantial number of letters were sent to the NAB Wealth General Counsel before a subsidiary of NAB Wealth Became the “constructive trustee” of the fund.

NAB – Digging a Deeper Hole {29 January 2013}

In this letter the General Counsel NAB Wealth was advised that:

“The NAB could be picking up a multi-billion liability if you and the other legal officers at the NAB do not vet the proposed transfer of members to the Plum Superannuation Fund with a fine tooth comb.”

This was a year before the purported “successor fund transfer” occurred on 20 January 2014.

NAB General Counsel 29 January 2013

NAB on Notice {11 November 2012}

Reference was made to the Robert Maxwell Pensions Scandal and unexplained large transfers from the Trust Estate of the Elders IXL Superannuation Fund.

NAB General Counsel 12 November 2012

NAB on Notice {11 November 2012}

The loss of governance of the fund on 20 December 1982 was demonstrated to NAB.

NAB General Counsel 8 November 2012

NAB on Notice {26 October 2012}

Reference was made to the second limb of Barnes v Addy and Belmont Finance Corporation Ltd v Williams Furniture Ltd [1979] 1 Ch 250 the UK Court of Appeal held that “dishonest” and “fraudulent” had the same meaning in this context and that neither word need to be specifically pleaded, however the pleadings had to disclose with particularity the allegations that the defendants had knowledge of dishonesty.

The criminal concealment of the Deeds of a trust from the cestuis que trust would be an example of dishonesty.

NAB General Counsel 26 October2012

Inquiry in Relation to Trust Accounts

{25 October 2012}

This letter inquired into “missing” executed Deeds of Variation.

NAB General Counsel 25 October2012

Your Duty of Care {28 September 2012}

Reference was made to the High Court’s finding in Shafron v Australian Securities and Investments Commission [2012] HCA 18, where Mr Shafron was the company’s General Counsel.

“Mr Shafron had a duty to take care and employ diligence to protect the company from legal risk in relation to those obligations”.

NAB General Counsel 28 September 2012 2nd letter

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