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Tuesday 7 April 2020

20-082MR ASIC obtains orders to wind up three financial services companies

The Federal Court of Australia in Melbourne has ordered that the following companies be wound up and that liquidators be appointed:

CompanyLiquidator appointed
Australasia Wealth Services and Management Pty Ltd (AWSM) Michael Hill and Katherine Sozou of McGrathNicol
Marigold Falconer International Pty Ltd (Marigold Falconer) Matthew Caddy and Robert Smith of McGrathNicol
My Wealth Adviser Pty Ltd (My Wealth) Matthew Caddy and Robert Smith of McGrathNicol

On 20 February 2020, ASIC applied to have Marigold Falconer and My Wealth wound up.

On 6 March 2020, ASIC applied to have AWSM wound up.

ASIC commenced the proceedings to protect the public in circumstances where it holds concerns about the conduct of the affairs of those companies and their solvency.

ASIC’s investigations into each of the companies are ongoing.

Last updated: 14/04/2020 04:28