QLD

Jonathan Chancellor | 28 November 2012

Equititrust's Mark McIvor bankrupt

The founder of the collapsed Gold Coast lender Equititrust, Mark McIvor is now bankrupt.

The Federal Magistrates Court, Brisbane ruling ordered the sequestration against Mark McIvor’s remaining estate.

It ruled the bankruptcy effective from October 22.

Mark McIvor was bankrupted by his former long-term lawyer and confidante, David Tucker, who once served on the board of Equititrust, over unpaid legal bills.

About 1400 investors lost all or part of their savings when the $260 million fund collapased.

His private assets, both residential and commercial, have been randomly sold off by mortgagees.

Its included his Cronin Island, Gold Coast place of residence and a house in Double Bay. 

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