The Federal Court in Perth has made interim orders against West Australian-based property developer Ms Desiree Veronica Macpherson and several Macro Realty Group companies of which she is a director and direct/indirect shareholder, following an application by ASIC on 21 July 2016.

Initial ex parte orders were subject to a non-publication order by the Court.

The companies subject to the orders are;

• Macro Realty Developments Pty Ltd (ACN 159 678 930),
• Macro Realty Pty Ltd (ACN 143 381 060),
• Macro All State Investments and Securities Ltd (ACN 168 713 719) (Holder of Australian financial services licence number 468439), 
• Macro Realty Developments AFSL Pty Ltd (ACN 160 620 502), and
• Pilbara Property Developments Pty Ltd (ACN 162 445 187), (all five together, the Macro Group).

ASIC obtained orders requiring Ms Macpherson to surrender to the Registry of the Court all passports held by her, any visa entitling her to enter, visit or reside in any country other than Australia and any airline ticket(s) for travel outside Australia until further order.

The Court also made interim asset preservation orders against Ms Macpherson and the Macro Group as well as restraining her and the Macro Group from providing financial services advice, dealing in financial products, promoting financial products and otherwise carrying on a financial services business. Ms Macpherson can apply to vary the orders on a day's notice.

ASIC made the application in order to protect the interests of shareholders, investors and creditors.

The matters subject to these interim orders have been set down for a final hearing on 19 December 2016.

ASIC's investigation is at an early stage, with a focus on investments in a land development in the Pilbara region of WA known as "The Newman Estate" that was subject to ASIC action and Federal Court permanent restraint orders in May this year.

ASIC's investigation is ongoing.

Background

Earlier this year, the Federal Court in Perth permanently restrained the marketing and promotion of a proposed Pilbara property investment "The Newman Estate" by Macro Realty Developments Pty Ltd (Macro) and made declarations that Macro, Property Tuition Pty Ltd (21st Century Property) and Education Holdings Pty Ltd (21st Century Education) breached various provisions of the Corporations Act by promoting and marketing the investment proposal (refer: 16-092MR).

Editor's note 1:

On 5 December 2017 Ms Macpherson appeared in the Perth Federal Court and in part agreed with ASIC to the extension of consent orders obtained against her in the Perth Federal Court last year relating to the the extension of interim asset preservation orders against her as well as restraining her from providing financial services advice, dealing in financial products, promoting financial products and otherwise carrying on a financial services business until 31 May 2018. (refer: 16-258MR and 16-367MR). 　

Ms Macpherson did not consent to those orders relating to her travel restraint and this matter has been set down for further hearing at 10.15am on  Monday 18 December 2017 in the Perth Federal Court.　

The consent orders obtained  by ASIC continue  until 4.00pm on 31 May 2018. Ms Macpherson may apply to vary the orders with 24-hours' notice.

Editor's note 2:  

On 18 December 2017 Ms Macpherson appeared in the Perth Federal Court, where the travel restraint orders against her were extended until 31 May 2018. Ms Macpherson may apply to vary the orders with 24 hours notice.

Editor's note 3:

Sequestration orders were made against Ms Macpherson on 20 March 2018.  Messrs Dino Travaglini and Daniel Juratowitch were appointed as trustees to Ms Macpherson's bankrupt estate. 　

On 4 April 2018 the Federal Court made orders by consent, including:

• discharging the interim asset preservation orders previously made against Ms Macpherson (these assets have vested in Messrs Travaglini and Juratowitch);　
• directing the registry to release Ms Macpherson's passport (and any other travel documents held) to Messrs Travaglini and Juratowitch; and
• extending the orders restraining Ms Macpherson from providing financial services advice, dealing in financial products, promoting financial products and/or otherwise carrying on a financial services business until 29 June 2018.

Ms Macpherson may apply to vary the remaining orders with 24 hours notice. 

Editor's note 4:

On 28 May 2018, the Federal Court made orders by consent extending the orders restraining Ms Macpherson from providing financial services advice, dealing in financial products, promoting financial products and/or otherwise carrying on a financial services business until 2 November 2018.