A judge has criticised “inflammatory” and misleading comments Mayfair 101’s director made to investors regarding attempts to wind up firms associated with the IPO Wealth investment scheme.
A self-represented James Mawhinney, the director of troubled Mayfair 101 director, has accused ASIC in court of misleading the judge in an ex-parte application brought in August that saw provisional liquidators appointed to the investment firm and Mawhinney banned from transferring assets out of Australia.
A court has ordered the winding up of Askk Investment Group and the unregistered managed investment scheme it operated in Beveridge, Victoria, that raised more than $11 million from investors.
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.