The worm seems to be turning

The worm seems to be turning for BlueChip Investors. This week we have seen Paul Dale have success with Greenstone, the positive news about the North Auckland Country Club, and now Government action.

EUFA have been calling for Government intervention in the Blue Chip Saga since March and have continued to call for a freeze on recovery action.

Today in a letter written to EUFA from the Minister of Commerce, Lianne Dalziel, she states she has taken action by writing to lenders embroiled in the Blue Chip Scam requesting “.... that the service of Property Law Act notices be delayed until the current investigations are completed by the appropriate authorities.”

This action by the Minister of Commerce is welcomed by EUFA executive and Blue Chip Investors as a step in the right direction with further good news for investors going forward - towards a just outcome.

When asked what EUFA and investors wanted the Government to do, EUFA Finance spokesman Gray Eatwell always responds by saying ‘we want the government to govern’. Today’s news is very encouraging albeit that is not totally what EUFA have been calling for. EUFA simply want relief for the victims of Blue Chip and for the outcomes of investigations to be realised hopefully enabling a just position.

EUFA have been very frustrated that no action was formally taken but comments from EUFA Coordinator Suzanne Edmonds today reflect relief and appreciation of the governments intervention.

“For what ever reason the Minister chose to act now rather than earlier is irrelevant, the fact she has, shows we are being listened to regardless of the critics claims that EUFA have been ineffective”

The documents served last month and prior, showed Sanderson and Weir, on behalf of their clients challenger, are prepared to use one act of parliament (PLA) when they know full well that another act of Parliament (the Crimes Act) may come into play very soon in relation to the SFO investigation into BlueChip. As previously stated it has been reported that similar loans overseas were not enforceable making the Ministers call extremely timely as PLA notices are beginning to escalate. The investors will be hopeful that the Lenders take stock at this time.

Mrs Edmonds adds “ Its is a very prudent move by the Minister. When the Minister realised another month had slipped by and many more PLA notices were about to be issued, she would have known the people would not stand for it. To be fair to Ms Dalziel I don’t believe she will accept the lenders ignoring her requests and neither should they.”

Very worried EUFA members who have been contacted by EUFA administration staff this afternoon believe with Paul Dales success for his clients, the people power pressure of EUFA and now the Governments actions may well see some light and justice at the end of the tunnel.