A judge has appointed provisional liquidators to investment firm Mayfair 101 and has banned director James Mawhinney from transferring any assets out of Australia, after the corporate regulator told the court Mawhinney could face criminal charges.
A judge has ordered that disputes arising between Transurban and a group of contractors over the discovery of toxic PFAS chemicals in the soil at the site of the multi-billion dollar West Gate Tunnel project in Melbourne be sent to arbitration.
Administrators for The PAS Group have failed in their bid to have almost $1.4M in rent declared an unsecured debt in the event the fashion retailer goes into liquidation amid the coronavirus pandemic.
A court has appointed provisional liquidators to the IPO Wealth Group, rejecting claims by the firm’s sole director that the move would severely damage his reputation and that of the wider Mayfair group.
The embattled founder of Mayfair 101 investment group has denied allegations that its $80 million IPO Wealth fund is a failed Ponzi scheme as he fights the appointment of a provisional liquidator to the fund.
Already facing action by the corporate regulator for alleged misleading and deceptive conduct and a potential class action, investment firm Mayfair 101 must now defend a lawsuit by former Liberal senator Julian McGauran, who is demanding the return of his $1 million investment.
Investment group Mayfair 101 has denied claims by ASIC that it has engaged in misleading or deceptive advertising of its Platinum products, saying in a response to the regulator’s case the products were aimed at sophisticated investors who were told of the risks.
The administrators of Virgin Australia have been absolved of personal liability for the ongoing operation of the embattled airline on an unprecedented scale, with Australia’s airline duopoly and the effects of the COVID-19 pandemic justifying the “extraordinarily wide” orders.
A judge has issued a temporary injunction limiting how Mayfair 101 can promote two of its investment products, in proceedings brought by ASIC accusing the investment firm of misleading and deceptive advertising.
ASIC has notched up a win against derivative issuer AGM Markets and two of its authorised representatives, with a court finding they engaged in misleading, deceptive and unconscionable conduct that caused investor losses of over $30 million.