Youpla Group (formerly Aboriginal Community Benefit Fund)

All of the previously active Youpla Group funeral funds are now in liquidation.

ASIC appreciates that the liquidation of Youpla Group entities is causing distress for the Aboriginal and Torres Strait Islander peoples and communities affected.

Aboriginal Community Benefit Fund No 2 Pty Ltd (ACBF 2) entered liquidation on 2 March 2022.

The Aboriginal Community Benefit Fund Pty Limited (ACBF 1), Aboriginal Community Funeral Plans Pty Ltd (ACBF Plan) and Community Funeral Plans Pty Ltd (ACBF Community) entered liquidation on 11 March 2022.

ASIC previously wrote to the directors of Youpla Group to ask them to take immediate and public action to address concerns about the financial viability of these funds (see 22-046MR).

Members of all Youpla Group funds are no longer covered under their funeral policies and should consider if they want to make other arrangements.

This page has information and links to organisations that may be able to assist consumers who are impacted.

The Youpla Group comprises four active funeral contribution funds:

  • The Aboriginal Community Benefit Fund (Fund No. 1) – issued by The Aboriginal Community Benefit Fund Pty Limited (entered liquidation on 11 March 2022) (ACBF 1)
  • Aboriginal Community Benefit Fund No 2 (Fund No. 2) – issued by Aboriginal Community Benefit Fund No 2 Pty Ltd (entered liquidation on 2 March 2022) (ACBF 2) 
  • Aboriginal Community Funeral Plan (Fund No. 3 ) – issued by ACBF Funeral Plans Pty Ltd (entered liquidation on 11 March 2022) (ACBF Plan)
  • Community Funeral Plans (Fund No. 4) – issued by Community Funeral Plans Pty Ltd. (entered liquidation on 11 March 2022) (ACBF Community).

ASIC and NSW Fair Trading are dual regulators of the Youpla Group (including the winding up of the funeral contribution funds) and are committed to working together with the liquidator of the funds to ensure the best possible outcome for affected consumers.

What should members do?

Youpla Group members are no longer covered by their funeral policies and should consider other arrangements.

Payments to Youpla Group, including direct debits from members' bank accounts, should have ceased.

Mob Strong Debt Help has published information for Youpla Group customers.

Members may wish to contact a financial counsellor to discuss their options, try Mob Strong Debt Help on 1800 808 488.

ASIC is aware that Mob Strong may be receiving many calls at the moment. If your call is not answered immediately please be patient and wait for a call back.

Consumers considering other options for funeral payment arrangements can get more information about paying for funerals from the Moneysmart website or by speaking to a financial counsellor.

ASIC cannot provide advice to individual consumers.

How can consumers find out which fund they are a member of?

Consumers can check any documents they have, including recent documentation received, to check which fund they are a member of. Consumers who are still unsure, can contact the liquidator using the details below, who can advise which fund they are a member of from client lists.

Liquidator contact details

The liquidator for all Youpla Group entities is now David Stimpson of SV Partners.

Phone: 07 3310 2005
Email: youpla@svp.com.au

Prior to 11 April 2022, the liquidator for ACBF 2 was W. Roland Robson of Robson Cotter Insolvency Group. On 11 April 2022 Court orders were made replacing the liquidator of ACBF 2 with David Stimpson of SV Partners. If you have provided information to Roland Robson you do not need to provide it to David Stimpson.

SV Partners has created a portal with further information regarding the liquidation of the Youpla Group entities: Youpla Group / ACBF Group Portal | SV Partners

For more general information about the liquidation process, please see the following ASIC information sheets:

The above information sheets do not specifically deal with the liquidation of registered funeral contribution funds.

Making a complaint about Youpla Group

Members can make a complaint to the Australian Financial Complaints Authority (AFCA) online or by calling 1800 931 678. AFCA continues to accept complaints against ACBF/Youpla entities but has paused the handling of those complaints. Find out more on the AFCA website.

Contacting a Regulator

If you wish to contact a regulator in relation to any of the funds, we recommend that you contact both ASIC and NSW Fair Trading.

ASIC and NSW Fair Trading will work together to ensure that all correspondence and inquiries are addressed promptly by the regulator that is best placed to address the issues raised.

You can contact NSW Fair Trading by email at registryinquiries@customerservice.nsw.gov.au or by phone on 1800 502 042.

You can contact ASIC's Indigenous Outreach Program by email at iop@asic.gov.au or by phone on 1300 365 957.

ASIC court action

ASIC commenced proceedings in the Federal Court against ACBF Funeral Plans Pty Ltd and Youpla Group Pty Ltd for alleged contraventions of the ASIC Act in October 2020. See 20-262MR.

Given the defendants are now in liquidation and voluntary administration, the litigation has been stayed while ASIC considers whether it will make an application for leave to proceed against the defendants. The matter has been listed for a case management hearing on 16 June 2022 at which time ASIC is to indicate to the Court whether it seeks to discontinue the proceedings.

Last updated: 14/04/2022 03:05