Blue Chip victims vow to fight on

She and her husband were shocked when the courts accepted the falsified documents, with one judge saying they had been altered to correct errors. "Hundreds of pensioners have been taken for a ride. They were all sold down the river and the courts have sanctioned it," Mr Bartle said. "The finance companies can alter the documents and charge what they like and there is nothing you can do about it."

The Northern Advocate
January 1, 2011

Blue Chip victims vow to fight on
Mike Barrington

Retired Whangarei businessman Bruce Bartle may have lost a court battle against a finance company, but he is far from waving a white flag.

He plans to stand his ground if the finance firm, GE Custodians, tries to shift him and his wife Judy out of their Tikipunga home to settle a debt of about $700,000 caused by the collapse of the Blue Chip finance firm.

GE Custodians won a Supreme Court ruling which overturned a Court of Appeal decision that ruled loans the couple took out were oppressive, but 71-year-old Mr Bartle is convinced he has the support of the greatest judge of them all.

"God has told me the legal system has had its chance to rectify this injustice and now it's his turn." Mr Bartle wants to tell the world about the allegedly doctored documents which drew him and Judy into dodgy loans.

The High Court heard evidence that a finance application signed by the Bartles in 2006 had been falsified, with their income details deleted, no IRD numbers and none of the altered pages authorised by their initials.

The Executive Mortgages application was handled by Jonathan Mathias, an Auckland solicitor last year adjudged bankrupt over a debt of $693,000 to the Inland Revenue Department and no longer practising as a lawyer.

The application had been altered to describe the Bartles as "self-employed investors" rather than "pensioners".

"We thought we were borrowing $137,000, but we got a bill for $639,000," Mrs Bartle said.

She and her husband were shocked when the courts accepted the falsified documents, with one judge saying they had been altered to correct errors.

"Hundreds of pensioners have been taken for a ride.

They were all sold down the river and the courts have sanctioned it," Mr Bartle said.

"The finance companies can alter the documents and charge what they like and there is nothing you can do about it."

In their test case, the Bartles took action against GE Custodians, Tasman Mortgages and Jonathan Mathias.

Mr Bartle said Tasman Mortgages had sidestepped the legal proceedings by going into liquidation. But soon after the Supreme Court early last month released its decision overturning the Appeal Court ruling, the Bartles received a letter from Tasman Mortgages calling in the near-$700,000 debt.

Mr Bartle said if the finance firms came to his door demanding sale of his home he would be asking them to produce documents showing he had taken out the big loan.

"The finance application was quite clearly falsified, with details and changes never verified by us," he said.

http://www.northernadvocate.co.nz/have-your-say/news/blue-chip-victims-vow-to-fight-on/3935742/


Risks: Appraiser and lender has cozy, repeat-business relationship, Bankruptcy, Caveat emptor canard, Contracts seen as unenforceable or void, Costs of scandals, Courts misunderstand relationship, Documents changed without authorization, False earnings claims, Follow the money: franchising re-distributes (not creates) wealth, Franchising practiced the same, worldwide, Franchisor corporation created to fail, Fraud, Justice, Law grinds the poor, and rich men rule the law, Lending duty, Lending duty never enforced via regulation or litigation, Lending is subject to expert fraud because it is a credence good service, Life savings gone, Loan pushing, Lost homes, Misrepresentations, Money swears, Ponzi (pyramid) scheme, Predatory franchise lending, Sue the appraiser, Sue the bank, Related company transactions, Undue influence, New Zealand, 20110101 Blue chip

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