Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Mid-tier to serve as liquidator to investment company

ASIC has applied for two mid-tier firm partners to be appointed as joint and several liquidators of Octaviar Group companies for allegedly contravening provisions of the Corporations Act 2001.

Appointments Lara Bullock 15 June 2017
— 1 minute read

ASIC has applied for the Supreme Court of Queensland to appoint BDO business restructuring national leader Andrew Fielding and business restructuring partner Helen Newman as joint and several liquidators of Octaviar Limited (formerly known as MFS Limited).

Advertisement
Advertisement

Octaviar Limited is a Queensland-based diversified investment company in the funds management and financial services sector.

It is the ultimate holding company of the Octaviar Group of companies which include Octaviar IHH Pty Ltd (OIHH), Octaviar Investment Holdings (No 3) Pty Ltd (OIH3), Erskine House Developments Pty Ltd (EHD) and Sunleisure Pty Ltd (SPL).

ASIC has applied to the Court for an order to reinstate the currently OIHH as a company under the Corporations Act 2001.

ASIC also seeks orders to then wind up OIHH, as well as OIH3, EHD and SPL, on just and equitable grounds.

ASIC is concerned that OIH3, EHD and SPL are contravening provisions of the Corporations Act 2001, including the requirement for a proprietary company to have at least one director.

The matter is listed for hearing in the Supreme Court of Queensland on 22 June 2017.

Mid-tier to serve as liquidator to investment company
image intro
accountantsdaily logo

 

Are you thinking of expanding your offering into SMSFs to grow your client base? Become a pro at SMSF fundamentals and make your clients bulletproof with the SMSF Foundations course. Learn directly from Aaron Dunn from Smarter SMSF as he deep-dives into the fundamentals you need to know to successfully undertake your work as an SMSF practitioner. Earn up to 21 CPD hours! Learn more

Appointments