How did Henry Kaye react when consumer advocate, Denise Brailey decided to stand up for Kaye’s victims?
At 4.30pm on Monday, in the Federal Court in Melbourne, Justice
Goldberg will decide whether to grant an injunction to Henry Kaye who
wants to silence consumer advocate, Denise Brailey.

Read how the story unfolded here: Henry Kaye threatenes a grandmother

For those unfamiliar with Brailey’s work, The Fin Review had a nice
story on her in Friday’s paper, giving her some much-deserved credit
for all her hard work.

The Fin said, “in Western Australia, the former model, housewife and
real estate agent is credited with breaking the back of a mortgage
broking scandal that fleeced an estimated $90 million from about 5000
retail investors, many of them pensioners.

“Her scalps included six people in jail for a total of 46 years, 37
real estate agents, valuers and solicitors reported to the fraud squad,
six Liberal Party seats lost in the state election in 2001, and perhaps
even the fall of the Court government.”

“The state government is also being sued for about $30 million in
expenses for not stopping the scammers and ‘St George Bank is being
sued for $15 million’.”

In effect the Fin said, “trying to silence Brailey is like trying to stop a bull with a red rag.”

Now with the backing from fellow real estate advocate Neil Jenman,
Brailey is urging the victims of Henry Kaye to liquidate his business
in a bid to ensure he can no longer act as a director of a company,
rather than accept whatever financial return Kaye’s administrator
offers.

Email to National Investment Institute to creditors

From Denise Brailey
President, Real Estate Consumers Association (Inc)

16th February, 2004

Re:  Voting National Investment Institute (“NII”) into liquidation

THIS IS YOUR LAST CHANCE TO CAST YOUR VOTE BY PROXY IF YOU HAVE NOT ALREADY DONE SO.

You have read the Administrator’s Reports and our own letters.  We
urge you to trust only your best instincts in this matter.

As you are probably aware by now I have been busy appearing before
Justice Goldberg In the Melbourne Federal Court on Friday 13th, 2004,
after Henry Kaye made application to the court in an attempt to gag me
from talking to creditors and to stop my use of proxies. Mr Kaye also
attempted to force me, on your behalf, to vote for yet another
adjournment of the Wednesday meeting of NII creditors.
 
I am pleased to announce that the Judge has rejected Kaye’s bid to
intervene with the rights of creditors in this way.  One of the
reasons that the Judge refused to assist Kaye was that he was seeking
to affect your rights, and you had not been represented at that
proceeding.

The Wednesday meeting will be held as scheduled.  Now that this
decision has been handed down, I am free to represent you at the
creditors meeting.  I still have very serious concerns about the
DOCA and will be voting for liquidation of the company.
 
I will attend, and am therefore able to use the proxies we have, as
instructed by some 500 creditors.  Clearly, those instructions are
to vote for the liquidation of the company known as NII.  We have
no knowledge as to how the vote will fall until after those who attend
make their views known.
 
If you wish to understand more on this issue, we suggest you read the
item written by Andrew Dodd, in the Weekend Australian on 14th February
2004.  Or you may wish to read another item by Tina Perinotto of
the Australian Financial Review on 13th February 2004.

There are further stories on the Jenman Group website at
www.jenman.com.au.  It is “approved” real estate agents associated
with the Jenman Group who came to our rescue.
 
We intend to make the outcome of the meeting as public as possible in
order for you to understand fully how all of these issues may affect
you in the future.  I will be following this email up with another
letter within a week.  We are, and have been for seven years a
support group and will continue to assist you with as much appropriate
information as we can gather.
 
WE BEG OF YOU
Please DO NOT phone Carol Perry and I, unless absolutely an
emergency.  With over 3000 people caught in the NII debacle, plus
those caught in Investmentsource Pty Ltd, we are unable to cope with
hundreds of phone calls.  Emails are the ONLY WAY for us to
provide adequate assistance – on a budget.
 
We now intend to delve more fully, into the AFD and Toorak matters
Kindest regards
 
Denise Brailey   -   President
Real Estate Consumer Association (Inc)