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Investor reactions following the settlement

December 18, 2012

We have kept names anonymous, but because you all have been so grateful with your words, we thought we would share some.  Feel free to add your own comments!


Yes – news of payout is very exciting and you and your team deserve a huge pat on back as without your insistent harassment of all those involved, I’m sure much would have been swept under the carper. You’ve kept everyone involved responsible in their duty to report on an ongoing basis, and assisted very much so in the various parties having to come to a monetary payout conclusion. Well done. We need more people like you in New Zealand keeping companies clean and honest.

Thank you sincerely for all the work and effort you have put into realising funds for the Credit Sails community. This will have been much appreciated by many I feel sure. I think I had really said goodbye to my investment so I anticipate the return of some capital owed with some delight!

Thank you for the update and the ‘best practice’ note.  You thank us for our support, but the thanks are more properly due to you and your team who have enabled us to have some hope of good news whereas left alone we wouldn’t have had any.  We truly appreciate your efforts; thanks.  Best wishes for the Festive Season.

For all the time & effort you have put into this. I really appreciate what you have done.

Thank you for the Credit Sales communication and for your diligent “beavering away” to achieve such a successful outcome. Congratulations on the ODT publication of today’s hard hitting resume of the impact on so many investors. There could be a case for a Prospectus/Investment Statement requirement to state that it is unwise to place any more than say 10% of an investor’s funds in any one investment.  We shall be in Wanaka Christmas/New Year & hope to have you round for a celebratory drink!

We would like to thank you and your team for the last three years negotiations on our behalf during the battle with Credit Sails and their associated firms.  Your team, together with the Commerce Commission,exceeded our wildest dreams and for this we can not express our appreciation enough.. We would like to wish you and yours a happy festive season and a  prosperous New Year.

You deserve a medal for this and our support of lesser importance.  I was rung this morning by Forsyth barr re this as if they had had had major impact.  Well done.

Thank you, I am delighted with your efforts on my behalf, especially keeping me so well informed.  I look forward to  receiving investment opinions and offers from Logic Fund Management in the future.

You little beauties!!!  Grateful thanks from a couple of oldies who had mistakenly expected an income stream that never eventuated.

Great news – thanks very much for your concerted effort.  It is much appreciated by us little guys !!   Please keep me on your database. I would like to show my support of you once the funds are received.  Kind Regards

Congratulations.  If you know where that Grant Waterhouse is; the man quoted by Tim Hunter; tell him I owe him a few beers for his famous quote about Chinese walls.  I would love to meet that man.  He has an attitude that I like.

I am sure that all investors appreciate the leadership in this matter – which has been key to the outcome. Great example of how investors can be become a community with the same objective.

Thank you both very much for your persistence and encouragement which I greatly appreciate. While it would have been good to have the perpetrators acknowledge culpability it is a very pleasing outcome.  I hope you enjoy a well deserved break and will hope to speak to you in the New Year.

Merry Xmas guys….Well done. Great news!!!! We hope you have a nice break and we will be in touch in the new year. Without you guys our money would have been lost and as loyal Southlanders we will look at putting some business your way in the future.  Once again well done!!!

Proficiat !  Delighted with the just received news the CC Credit Sails investigations have resulted in a NZ $60 m settlement , thanks to your ongoing and persistent drive to rescue our investments!  You have done a marvelous job , our heartfelt thanks.

I am very grateful for your efforts on behalf of all of us who bought these bonds.

Thanks to you and the team for all your hard work to achieve this very good result which was not without cost. I do think that you should allow the investors to make a voluntary contribution towards costs / salaries and I think 2.5% of funds received would be an appropriate guideline. If you are unable to consider this then perhaps in a later communication you could nominate a charity (ies) to whom donations could be made ( and these would be tax dedectible for investors as an added bonus!!l).  Again thanks for the Christmas present

If you ever pass through Waihi, please look us up. If it is the right time of the day we will share whiskey!  Well done, and all the best!

Thanks for your report. i think I should applaud your firm for its efforts in pursuing a very reluctant share broker and others so that a reasonable conclusion was reached.  I note that Paviour-Smith still claims that he has worked over three years to obtain satisfactory return for investors.  How gullible does he think investors are ?  I wish you success in pursuing the SCF preferential share issue. I am just thankful that I said to FB & Co “No thanks’ when they tried to sell me that issue.

Compliments of the season to you and your staff.  And best wishes to you in your next mission.

We write thanking you and all the team at Logic Management for the successful outcome with Credit Sales. This will have been a very exhausting 2-3 years for you all on our behalf.  How we ever bought into this product, with hindsight, still eludes us. But the offer, to just a select few, of the chance to buyback really grates.  Correspondence from Forsyth Barr on this matter has been nil, other than an earlier letter saying “challenging times” and “bad luck”. Without your persistence to get this matter before FMA, none of us would have received any repayment.  We would welcome the opportunity to stay on your database and, in time, review some of our investment options. Once again, thanks – and Happy Christmas to you all.

Thank you very much, this is very good news. All your hard work has certainly paid off because without the pressure you put on, the commerce commission would have done nothing. Thank you very much. I am certain you will have a very Merry Christmas and will have a very successful new year. Thank you again from my wife and myself, you can be very proud of yourselves.

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