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EYE-BALL NovelZone’s Zombie-Leaks – 1982 Documents – Part 2

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EYE-BALL Zombie-Leaks –
1982 Document Uploads Part 2.
Updated 9th 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 largely 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 – and the mix sought was to allow the SBNSW and NSWG to retain complete control over the Management and Board of the SBS and be able to claim ownership.

These documents go some way to exposing how pressure was bought to bear on the Office of Fair Trading and the Minister, the Registrar, and the 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 2:
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 file have deliberately been left out – you can guess the reasons right … but rest assured they will appear when proceedings dictate.

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This Document as can be seen is marked – “NOT FOR PUBLICATION” – it is also un-dated …

Comments:

More incrimination that the intent was always to circumvent the Clause 17 in the 1931 Amalgamation Agreement – [1931 Agreement] – The summary of the document has overtones all through it – they wanted a Building Society which they could control and claim ownership if the matter went to Court for breach of the 1931 Agreement.

The candid manner in which the shareholders of the Tamworth Building and Investment Society – TBIS and now Rural Building and Investment Society – RBIS – and being spoken about and how the plan was to deflate their share value to force a sale indicates a collusive and insider trading scam in which the SBNSW and NSWG were going to swoop and purchase the shares when they fell.  In the context of commercial transactions – this is a reasonable strategy – but when the members funds of some $120 million are the prize, and the commercially component is about taking over the whole of the shareholders funds without reference to the member shareholders for a vote – something stinks – and this is being conceived by an agency of the NSWG – surely the Co-Operatives had some concerns about the Members and how they were being spun as if in a washing machine with all these transfer of engagements, Business name changes and reversal back again …

The end game was to get all the members funds into the RBIS because it was Incorporated under the 1910 Act – which facilitated ownership of the Society outside the general membership shareholdings – all done with smoke and mirrors and Co-Operatives staff being pressured to comply because it was what the Premier wanted – under advisement from the Minister for Co-Operatives and Minister Assisting the Premier – who in turn was being advised by the Legal Counsel for the SBNSW – who was pushing the for a stoush with the CSB over the 1931 Agreement … the depth of the structure of events was multi level and unless you could see all the pieces – everyone else was wheeling and dealing with eye-patches covering all the blind-spots.

Just look at the above Internal Memo for what it says and represents and you will get a picture, if it looks like a dog shit, smells like a dog shit, and sticks to your shoe like dog shit – then it’s a good bet it is dog shit … the poor Co-Operatives staff below Minister level never knew which way the wind was blowing … or if they did – then they were in on the scam as well …

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Comments:

Mr Whitlam again enters the fray – at this point his lap-dog was Mr John O’Neill serving as some coffee boy for Mr Whitlam.  He latter became the Company Secretary and from their onto replace Mr Whitlam.  O’Neill was exposed to all the ins and outs of the game-plan as relates to the SBS and its formation – hell … he had his hands all over it like a good retriever doing his masters bidding. He is what one would call in a Banking environment – an ass-licker which everyone has to do to get promoted – and John O’Neill was licking the big boss’ ass and in the end it got him the gig he so wanted …

This letter confirms that the 50% profits the CSB had to hand over to the NSWG and SBNSW every year was important – and Mr Whitlam did not want to jeopardise that cash flow …

His comment that the – “RIBS will become the State Bank in due course…” suggests some confidence that they already had a good shot at overturning the 1931 Agreement – 5-10 year plans were being made on the back of the SBS and where it was to fit in with the SBNSW growth estimates.

What is yet to be revealed is just how the SBNSW got so cocky about how they were going to win the court battle with the CSB.  Clause 17 was quite clear and as the Judgement largely point out that Savings Bank or Building Society – the decision by the Court came down to other contributing interpretations – I’ve read the decision a few times and am still to fully understand the point of Law used in determining the decision – the advice that some SBNSW witness’s gave perjured  evidence made me ponder what good it did in the end … the Judge largely dismissed all the witness testimony and went to his ‘limbs’ as contained in Clause 17.

Somehow the SBNSW must have know this was the point of Law that was going to win them the rescinding of the 1931 agreement.   To be truthful – having researched so much of the events that happened in 1930-31 and on to 1935 when Jack Lang was booted from the ALP – I think the NSWG and the SBNSW or Government Savings Bank of NSW as it was then known got a raw deal.

But in the end they did the the SBS members what the CSB did to the NSWG back in 1931 – two wrongs don’t make a right – now it is time for the SBNSW and the NSWG to face the music over their crimes …

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Comments:

This is just a little rubber stamping and approval to allow the ENTITY structure to move a little closer to being completed.  It does give some idea how far Minister Sheahan’s nose was up Premier Wran’s butt …

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Comments:

Now this is a very interesting document … the handwriting is difficult to read – but when you get down to the bottom of the first page . you will read a little paragraph that reads as –

“Special Resolution:

A spec. resolution providing “That each Director who voluntarily resigns from the Board consequent upon the registration of the alternative to the rules set forth in the motions 1(a), (b) and (c) above, will receive compensation in addition to any entitlement under the rules in an amount equivalent to twice the current yearly Directors fee” … continues …

Well that is pretty plain – lets do a deal – we’ll pay you 200% of your usual fee – all we want is for you to resign and give us complete control … what type of Directors were these people to be bought so cheaply given what was at stake – a $375 million Building Society with a State Government guarantee – special stamp duty concessions – the Premier’s favour – hell they could have held out or more if they were seriously aware of what was happening …

Then there is the question – what allegiance did these Directors pay to the members of the Society … come-on – this was a steamroll and anybody in the way was bought off or told to lie down … this was the NSW Government … and some seriously connected senior Australian Labour Party people … the research has some hooks into Paul Keating as someone who was a big Jack Lang fan and a member of the NSW Labour right – he became Federal Treasurer in the Hawke Government in March ’83 – and just what role if any did he have in the formation of this policy?

I liked Keating as Treasurer – but this part of the research is not going to go there yet … for the moment Wran, Sheahan, Greiner, O’Neill, Kearns, are definitely in the witness box – and the grilling will be like peeling potatoes – the potatoes will have cuts and spike holes all over it by the time it is finished.

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Comments:

Another rubber stamp job – and after this it was done … the TBIS became the RBIS – the RSL-MPBS was merged and they all became the SBS … the combined assets after the merger was $375.9 million – and the SBNSW owned $3.050 million of fixed-capital.  This came from a $3 million windfall profit from the sale of a building in Pitt St., Sydney converted at 600,000 shares at $5 par value.  The other 9418 shares, 5005 shares were already owned by the SBNSW, and the remaining 4,810 shares were purchased at $300 a share against a $5 par value – costing $1.4 million – these were the hold outs that were original TBIS venture capital investors.

The NSWG and SBNSW now had their ‘pawn’ in the game – the most revealing observation is both the NSWG and SBNSW had no conscious over how they were trampling all over the concept of the Co-Operative movement – their sole goal was the fight with the CSB out of revenge motives – none within the Government had a goddamn care this all ended – they were all focused on the immediate goal and the new SBS members were being taken for a ride and they had no idea how much this ride was going to cost them.

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More 1982 Documents Part 3 will be uploaded next – These are interesting – Proposed Rule changes to the SBS Constitution …

Back to EYE-BALL NovelZone Zombie-Leaks home page

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