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Tuesday 16 May 2017

17-142MR ASIC takes action to appoint liquidators to Courtenay House companies

Following an application by ASIC, the Supreme Court of NSW has made orders, by consent, for the winding up of Courtenay House Capital Trading Group Pty Ltd and Courtenay House Pty Ltd (Courtenay House companies) and the appointment of Said Jahani and John McInerney, of Grant Thornton, as joint liquidators to both companies.

ASIC sought the appointment of a liquidator as part of its ongoing investigation into the Courtenay House companies so that the affairs of the companies can be wound up in an orderly manner for the benefit of all creditors.

Mr Jahani and Mr McInerney, as liquidators, now have control over the assets and business of Courtenay House Trading Group and Courtenay House.

The Courtenay House companies had previously offered returns to investors on capital allegedly invested in foreign exchange and futures commodities when they were not licensed to do so.

The winding up follows interim orders made by the Supreme Court of NSW on 1 May 2017 against Courtenay House Trading Group, Courtenay House and associated parties to freeze their assets, prevent them from carrying on a financial services business and to prevent Mr Tony Iervasi, director of the Courtenay House companies from leaving Australia (refer: 17-127MR).

ASIC’s investigation is ongoing and we cannot comment at this time. All publicly available information will be published on a dedicated webpage at http://asic.gov.au/courtenay-house. This site also includes information on how to contact ASIC to provide information as part of our investigation. Investors in the Courtenay House companies should refer to this website for ongoing updates.

Investors seeking information about the impact of the winding up of the Courtenay House companies for them and their investment funds should contact Mr Jahani and Mr McInerney at Grant Thornton care of:

Mr Fraser Wilkinson

Phone: (02) 8297 2698

Email: courtenayhouse@au.gt.com

General information about liquidation and its implications for creditors can be found in ASIC's Information Sheet Information Sheet 45 Liquidation: a guide for creditors [INFO 45].

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Last updated: 16/05/2017 12:00