Outsider notes that former Dover Financial principal, Terry McMaster has joined battle with the Australian Securities and Investments Commission in the Federal Court over the status of Dover’s so-called “client protection policy”.
Outsider also notes that the journalists covering the Federal Court proceedings have prefaced almost all their references to McMaster as being the man “who collapsed in the witness stand at the banking royal commission and was carted away by an ambulance”.
Now your wiley old correspondent knows better than to predict the outcome of court proceedings, particularly when someone like McMaster is involved, but he suspects that if the former Dover boss has been in court then he is at least giving in the administrative areas of ASIC a rest with respect to Freedom of Information requests.
It seems that while ASIC has been pursuing McMaster and Dover through the courts he has been pursuing ASIC with respect to its dealings with the media in relation to Dover and the manner of its closure late last year.
Outsider believes that while McMaster may have collapsed in the Royal Commission witness box he will be mounting a vigorous defence in the Federal Court.