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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:
|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.