A judge has granted ASIC a hotly contested extension of time in appeals brought byĀ Mayfair Group and founder James Mawhinney after a judge slapped the investment group with a $30 million penalty.
A judge has struck out a defence invoking the right against self-incrimination in a $2 million case brought by freight company Maersk alleging a Melbourne waste tyre company director used the shipper to dump end-of-life tyres overseas.Ā
The former director of Mayfairās failed IPO Wealth Holdings, James Mawhinney, has lost his challenge to a judgeās decision allowing liquidators to examine him for an eighth day about the transfer of āconsiderable assets and fundsā from the fund to other entities he controlled.
Mayfair 101 director James Mawhinney has sought a temporary stay of ASICās case accusing him of being in contempt of court for allegedly breaching a 20-year ban on selling financial products.
Former legal representatives of companies in the Mayfair 101 group are considering an application to strike out part of an appeal that alleges their āflagrant incompetenceā led to director James Mawhinney copping a 20-year ban on soliciting investor funds.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
Embattled investment group Mayfair 101 is challenging a judge’s decision last month to slug it with a $30 million penalty for engaging in misleading and deceptive advertising.
Beleaguered investment group Mayfair 101 will have to pay a $30 million penalty after a judge found a $12 million penalty proposed by ASIC was “insufficient”.