The Federal Court today made interim orders appointing provisional liquidators to companies associated with Jamie McIntyre and 21st Century land banking companies.
Simon Alexander Wallace-Smith and Robert Scott Woods of Deloitte have been appointed as provisional liquidators to corporate respondents to ASIC’s legal action commenced in August 2015 (refer: 15-214MR).
The respondents are:
- Archery Road Pty Ltd (ACN 162 921 735)
- Bendigo Vineyard Estate Pty Ltd (ACN 600 088 211)
- Secret Valley Estate Pty Ltd (ACN 602 817 532)
- Kingsway South Holdings Pty Ltd (ACN 159 230 976)
- Melbourne Tarniet Estate Pty Ltd (ACN 603 945 393)
- Property Tuition Pty Ltd (ACN 129 421 281)
- Education Holdings Pty Ltd (ACN 129 551 917)
- Sourcing Property Pty Ltd (ACN 602 474 779)
In addition, injunctions were made preventing all of the respondents, including Mr Jamie McIntyre and Mr Dennis McIntyre from promoting the 5 schemes ASIC is concerned about. They are: Botanica, Secret Valley Estate, Oak Valley Lakes Estate & Resort, Bendigo Vineyard Estate & Resort and Melbourne Grove Estate.
The provisional liquidators have been ordered to provide a report to the court, ASIC and the respondents within 42 days (by 19 November 2015) reporting on a number of matters including the solvency of the companies and the schemes, any money owing to investors and the likely return to creditors of the companies.
Jamie McIntyre, Dennis McIntyre and the companies all agreed to the orders made today.
The matter returns to court for a further directions hearing on 4 December 2015. A date for the final hearing of the matter has not been set by the court.
For more information refer to ASIC’s key matters page
Background
ASIC’s proceedings are part of ASIC’s wider and ongoing investigation into land banking schemes and the 21st Century land banking companies (refer: 15-203MR and 15-250MR).
Editor's note 1:
On 12 November 2015, the Federal Court made orders extending the time for the provisional liquidators to provide their report to 15 December 2015.
Editor's note 2:
On 3 December 2015, the Federal Court adjourned and re-listed the directions hearing for 5 February 2016. The Federal Court also accepted an extension of the undertakings from Messrs Jamie and Dennis McIntyre that until 4pm on 5 February 2016, they would give notice to ASIC of any travel outside of Australia and deliver their passports to their solicitors.
Editor's note 3:
On 5 February 2016, the Federal Court re-listed the matter for a further directions hearing on 10 March 2016. The Federal Court also accepted an extension of the undertakings from Messrs Jamie and Dennis McIntyre that until 4pm on 10 March 2016, they would give notice to ASIC of any travel outside of Australia and deliver their passports to their solicitors.
Editor's note 4:
On 10 March 2016, the Federal Court of Australia has made orders appointing liquidators to companies associated with Jamie McIntyre and 21st Century land banking companies (refer: 16-077MR). The matter adjourned for a further directions hearing at 10:15am on Friday 8 April 2016.
Editor's note 5:
On 7 April 2016, the Federal Court of Australia re-listed the matter for a directions hearing at 10:15am on 2 September 2016. The trial has been set down for hearing for 3 days commencing 17 October 2016.
Editor's note 6:
On 30 August 2016, the Federal Court of Australia adjourned the directions hearing to 10:15am on 4 October 2016 and referred the proceedings to a mediation to occur no later than 30 September 2016.
Editor's note 7:
On 17 October 2016, the Federal Court made final orders against Jamie McIntyre, Dennis McIntyre and the corporate respondents (refer: 16-357MR).