Bluechip victims anxiously awaiting PLA notices

Bluechip Victims who have loans through Tasman mortgages, TEA custodian, Challenger and GE money - who have not paid their interest payments, are now anxiously waiting to be served PLA notices. Last month it was reported that 30 PLA notices were served in Tauranga, one area that has been badly hit by Blue Chip.

Coordinator of EUFA Suzanne Edmonds said “A large number of Blue Chip Victims received the threatening letter last month which indicates the man knocking on the door is the next step in the process. We warned the Minister of Commerce, Lianne Dalziel about the ‘process’ back in March........ the writing was on the wall then but no one took notice of our warnings”.

Sanderson and Weir, an Auckland law firm seem to be the main firm issuing the PLA notices. Last months PLA notices proved that they have taken little notice of the public call made by the Minister of Commerce.

This was at the same time as the Sanderson and Weir server issued a 90 year old lady with a PLA notice at her bedside . Sanderson and Weir continued to issue PLA documents to very elderly Blue Chip victims.

The fact is - most victims cant afford the interest or a legal challenge - this puts a price tag on justice! Fortunately some victims can afford a legal challenge and seem to be preventing recovery action.

The documents served last month showed that Sanderson and Weir, on behalf of their clients, are prepared to use one act of parliament (PLA) knowing full well that another act of Parliament (the Crimes Act) may come in to play very soon in relation to the SFO investigation into BlueChip. The Lenders claim they are victims to the Blue Chip scam, making it ethical to work ‘with’ the other victims. All victims of BlueChip could pool resources and achieve a far greater outcome, by chasing the perpetrators. Such action could result in finding laundered money and hold Mark Bryers to account along with those who were in the game with him.

All the lending institutions that are associated to Blue Chip are fully aware of the SFO investigations and have all been put on notice by EUFA that recovery action is repugnant.

There are conflicting legal opinions in relation to the loans being enforceable. With this conflict of opinion, and while the lending practices and loans are being legally challenged under criminal investigation,

recovery action must cease and the loans be frozen.

In other countries loans made in similar circumstances were not enforceable. In New Zealand the same laws should apply and recovery action stopped.

Mrs Edmonds added

“Through EUFA, victims again appeal to the government to take action before the election, because - once we do the big six month close down over the Election campaign and Christmas periods, there will be so much more affliction. If the past 6 months suffering is to learned from, action is needed now.”