Home > EYE-BALL's ZombieLeaks, Politics - Domestic, The EYE-BALL NovelZone -, The EYE-BALL Opinion > EYE-BALL NovelZone’s Zombie-Leaks – 1982 Documents – Part 1

EYE-BALL NovelZone’s Zombie-Leaks – 1982 Documents – Part 1

EYE-BALL Zombie-Leaks –
1982 Document Uploads Part 1.
Updated 6th Jan 2012
Hello – this page forms a part of the Document upload database as a part of the State Bank of NSW – (SBNSW) and NSW Government’s – (NSWG) Corporate RAPE of the State Building Society – (SBS) in 1988.

The Documents linked below were obtained under FOI applications and relate to the SBNSW and NSWG efforts to get the entity structure right both in terms of the Building Society Acts i.e. there were three NSW Acts in play – 1901, 1923, and 1967 – the mix sought was to allow the SBNSW and NSWG to retain complete control over the Management and Board of the SBS.   These documents go some way to exposing how pressure was bought to bare on the Office of Fair Trading and the Minister, the Registrar, and Deputy Registrar.

Below the table of links – some of the image files have been pasted and commentary is made as to what the Letter means in the overall scheme of the SBNSW and NSWG’s intentions.

Uploaded Documents – 1982 – Part 1:
Date: Link: Information:
06/01/2012: 1982 Docs – PDF

1982 Docs – Word

(17Mb …)
These files include all 1982 files.

The documents included in this file are a mixture of Administrative, Ministerial, Co-Operatives, Permanent Building Societies Assoc, State Bank, SBS Rules amendments, private notes, and State Treasury  files.

Some files have deliberately been left out – you can guess the reasons right … but rest assured they will appear when proceedings dictate.


First image posted from the 1982 stack is a letter from The Minister Mr Sheahan to the MD of the SBNSW – Mr Nick Whitlam.


Almost six years to the day after this letter was written – Nick Greiner won the NSW Election in a minority Government.  Six weeks after that the whole Co-Operative industry was in uproar over the planed end-game merger between the SBNSW and the SBS.   The new Minister Mr Gerry Peacocke saw the merger as a result of the ‘conflict of interest’ that existed with the SBS Board being controlled by the SBNSW appointed Directors.

Now I would fathom at a guess that these men serving the NSW Government in 1982 were clever – they obviously weren’t stupid – but given that Minister Peacocke’s 1988 Amendment Bill as a result of the planned merger – did cause the SBNSW and NSWG to abandoned the merger and pursue a sale option – there has to be some argument that the SBS ‘entity’ was a flawed structure all along.

What is obvious in the different era’s is that in 1982 – the court battle with the CSB was in its infancy – and in 1988 the SBNSW and NSWG had won and been compensated to the tune of $330 million.  The merger of the SBS with SBNSW as their Savings Bank as the end-game solution was always going to be the final slap in the face to the CSB.

But at the first hurdle of resistance over the merger in May 1988 – and offered by someone whose integrity demanded that he stand up for the SBS members – Minister Peacocke bought down the merger plan within days of the announcement by John O’Neill as the new CEO of the SBNSW and having replaced Nick Whitlam some eight months earlier.  The new Premier Greiner joined in on the merger talk and conducted several media interviews lending his support to the merger.  [See linked Media uploads for more information.]

One has to ask how did this ‘ENTITY’ structure pass all the checks and balances in 1981-82?

Given the Legal Opinions delivered by the State Crown Solicitor’s Office, The Attorney General, Independent lawyers – Mallesons Stephen Jaques – (MSJ), during May 1988 in confrontation to the merger agenda – how could they be so right in Law and force the SBNSW and Premier Greiner to back down – when all that transpired in 1981-82 had to go through the same offices – [i.e. except MSJ].

The Solicitor most responsible for all the legislative process in 1981-82 was the SBNSW Legal Counsel –  Paul Kearns.  It was his consult that was responsible for all the internal opinions supporting the SBS’s structure and formation.  It could be said that the NSWG was ‘hoodwinked’ into believing there was no ‘conflict of interest’ and willingly so because the motive in overturning the 1931 Agreement was just too tempting.  Paul Kearns also sat as second chair all during the 5 year court battle with the CSB – so his involvement was as ‘dirty-handed’ as it gets.

This whole saga began as a ‘pay-back’ opportunity over events that happened back in 1931 – and ended up as ‘scrambled eggs’ on a floor with nobody in the Greiner Government wanting to stand up for the SBS members and staff at the final hurdle.   Minister Peacocke’s posturing’s in May ’88 were nowhere to be seen by Aug ’88 when the sale to St George went through.

In the end the SBNSW and NSWG striped the value of the SBS reserves – some $60 million plus the added goodwill value from the SBS members when they sold their $3.050 million of fixed-capital to St George for $75 million.  Right up to the end – the SBNSW appointed Directors to the SBS Board were acting in and from a ‘conflict of interest’ position – yet nobody intervened on behalf of the SBS Members and Staff … this is the FRAUD and Corporate RAPE that John O’Neill and Nick Greiner are most responsible for.

In the letter from Minister Sheahan above – he was also serving as ‘Minister Serving the Premier’ – within that arrangement it became Minister Sheahan’s role to get done what the Premier wanted done.  This whole matter sits fairly and squarely at the office of The NSW Premier and his associates and agents in crime – through three NSW Premiers …



This is more pandering and glossing over of the real issues that were overlooked – Minister Sheahan had to have been getting legal advice from the Crown Solicitor’s office – those documents are conveniently absent from the FOI – there is no assertion that documents were not forwarded under the FOI – they were never there in the first place.   Apart from the obvious – the above document is of little importance …



Mr Whitlam gets his hands dirty in this little exchange … he is writing to the Registrar of Permanent Building Societies – he kept it impersonal and did not name the Registrar – but at this stage it was still Mr Horton.   This letter can be likened to a ‘bushranger’ having corralled all the ‘booty’ and was now telling the Law what the rules were to resolve the ‘heist’.

Given Mr Whitlam’s run in with the NRMA Board and his narrow escape – there is evidence of a pattern in how Mr Whitlam does business … wink-wink … can’t say too much … I like the Whitlam family and think Gough got a raw deal …  but as ‘heist’s’ go this was a masterpiece in planning and up until it faltered with the merger agenda some 6 years later – it still ended up with a $75 million heist result – and to this day nobody has given a rats-ass.

To any observer this is an example where crime does pay – particularly when you’re the Premier of a State Government and you have people around you who are loyal to a cause – anybody with half a brain knew the ‘conflict of interest’ was always there – even Mr Whitlam.



The first paragraph of page 2 gives further evidence that the SBS was to be structured so that it was believed owned by the NSWG and controlled by its agents the SBNSW.  This is ego and malice all thrown in together – the almost $400 million of members funds in the merged RBIS and RSL-MPBS are not even thought of  as shareholders.  The SBNSW and NSWG were swaggering around thinking that their $3.050 million of fixed-capital gave them rights over and above ‘natural-justice’, and against every principal pertaining the to Co-Operatives Industry – this was hubris in the extreme and poor little Johnny O’Neill got his face smeared all over it for a while.

But in the end he pulled a rabbit out of a hat with Premier Greiner’s help and they still got to laugh all the way to the Bank.  Well the wheel has turned and it is now time for those ‘crooks’ to be rounded up and put before their peers to allow judgement for their past deeds.  One could hope for Kama – but that might be a hit or miss happenstance  – for the SBS members and staff – public exposure and a nice big fat settlement would better suit those who were robbed.


More 1982 Documents Part 2 will be uploaded next –

Back to EYE-BALL NovelZone Zombie-Leaks home page


Please – if you want to stay in touch with developments – please complete the FORM below.   The FORM submission allows you to register your details and comments if you so wish. Your registration will place you on a mailing list for all future updates relative to document uploads and other matters being pursued in this dispute.   You can unsubscribe from this Mailing list at any time – and just a confirmation reminder that all your details will be kept private and confidential.


%d bloggers like this: