Legal aid a crock - Bluechip Investors need protection from crimes

Legal aid is freely available and FREE to criminals who have no assets, but for anyone with assets or who achieve compensation, Legal aid is just a loan if available under its criteria. It is not readily granted to the deserving and often applications are declined.

This dysfunctional system means the government will have to come up with a system that will provide all BlueChip victims their human rights, of an effective remedy, especially as the investors may be victims of crime. The BlueChip companies are being investigated by the SFO as a result of evidence supplied to the SFO.

Investors are accused of being greedy. Professionals advised investors and it is now immerging even the advisors were not aware of the alleged crimes. The crimes and misrepresentations could never have been foreseen by investors or independent financial advisors ? The accusations of investors exposing themselves to risk for higher return is simply out of line and their spin comes from the ill informed and is simple arrogance.

Most people/investors are not eligible for legal aid and many law firms don’t work with the scheme. The scheme is discriminating. People who have lost their life savings and assets, taking legal action still remains impossible.

BlueChip victims who are being forced to pay loan payments defaulted on by BlueChip. Blue Chip set up an untenable contract and victims are powerless without legal avenues to protect themselves. Group action still requires victims to take individual actions costing the individuals directly.

Coordinator of EUFA Suzanne Edmonds said today. “Legal Aid is so misunderstood in New Zealand and is not available to protect victims. Victims fundamental human rights are ignored yet the perpetrators bleed this system and any other system they can”

The Minister of Commerce did negotiate with the law Society to provide one free hour of advice to BlueChip investors but one hour is a waste of time. The legal opinions being given throughout the country to Blue Chip investors is so diverse and conflicting that it is simply creating confusion and added stress. Peoples long serving lawyers are also contributing to the confusion.

BlueChip investors have multiple avenues for claims from the Bluechip directors through to the financial advisors. Until these are coordinated in a decisive, swift and effective manner victims will not progress and homes will be lost either by force or desperation and peoples health and lives destroyed. The lenders have buckled under pressure to not serve PLA notices and sell people up but they are doing this unofficially and are simply clocking up the interest daily at a penalty interest rate and the vultures will swoop when they get the chance.

While GE money are investigating the various avenues to pursue Blue Chip associated companies, any cash lost will inevitably be clawed back from the victims.

Mrs Edmonds added “While people wait for test cases and with the courts extremely overloaded, time is eating away and people lives remain very stressful and debilitating. The year is slipping away and each month the lenders collect further funds that are simply a payment into a black hole and this must stop now. Under the Bill of rights individuals are entitled to an effective remedy and EUFA remain steadfast that a fund and an enquiry similar to the concept of the Wine Box is set up. This is urgent and should be undertaken by Government immediately. The terms of reference need teeth and EUFA will not let up on this stance”.

Legal opinions gained, suggest loans that inevitably will not be enforceable, if they reach court, are still being enforced due to individuals not affording to take individual action against the companies involved with forged documents and a raft of issues New Zealanders still send their loan payments off to an overseas company due to our own faulty systems and failure to act as a country.

Mrs Edmonds Said “While the Victims all WAIT, the time they say heals will actually kill ”.