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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: SEC-ond-chance who wrote (82958)	1/14/2003 9:53:49 AM
From: StockDung	Read Replies (2) \| Respond to of 122087

NEW TEL MORNING COMICS->New Tel fundraiser in denial Geoff Elliott January 15, 2003 HE might be trying to raise millions for Perth-based Peter Malone, chief of failed telecommunications company New Tel, but Richard Steggall can't even pay the $40,000 he owes his landlords. In the Melbourne Magistrates Court five months ago, Mr Steggall was ordered to pay $40,000 in rent, $1830.67 in interest and $1270 in costs relating to a breach on a commercial property lease in South Melbourne held by Mr Steggall's failed company StegTel Communications. Lynda Lim thought the judgment would end the matter with her nightmare tenant but she is still awaiting her money. "We've been trying to locate him," she said. And there is an added worry for Mrs Lim, of Melbourne: it seems Mr Steggall has forgotten about the whole affair. "I've never heard about it," Mr Steggall said yesterday, adding that he was not interested in this style of journalism. He said he had never heard of Lynda Lim, despite his signature on the same lease document Mrs Lim signed in March 2001. In fact, only four months later he was writing to Mrs Lim's real estate agents – as StegTel Communications lurched into a cash-flow crisis – "reconfirming our inability to meet the schedule payments proposed". Mr Steggall put his own proposal forward for repayments hoping for a negotiation, adding, "I am sorry to have done this to you". Mrs Lim, through her family trust company Doyale, served a claim on Mr Steggall. Despite denying he knows about it, Mr Steggall filed a defence to the claim that was later struck out because he did not provide further particulars. Judgment was made against him. "I find it amazing he denies all knowledge of it," Mrs Lim said. "He only ever made one payment." Mrs Lim is no relation to Mr Steggall's 22-year old girlfriend, Ingrid Lim, a director of Broadband & Wireless Ltd, which Mr Steggall now represents and which has been trying to raise funds to help resurrect New Tel. Ingrid Lim was also a director of StegTel, as was a Richard Blum – a name Mr Steggall has used in the past. Asked if he was ever a director of StegTel, Mr Steggall said yesterday: "I can't recall." StegTel was wound up 12 months ago owing creditors $154,993. The latest revelation is another twist in the colourful background of Mr Steggall, who at 27 has been trying to negotiate with some of the biggest names in the telco industry to persuade them to back his proposal to help save New Tel. That ultimately failed this week when New Tel was put into liquidation. Mr Steggall's rescue efforts were not helped by revelations of his business methods. He has admitted already to his criminal past and is serving a three-year suspended sentence after a Victorian County Court found him guilty of obtaining financial advantage by deception and obtaining property by deception. The Australian