CORPORATIONS – operation of unregistered managed investment scheme in contravention of s 601ED(5) of the Corporations Act 2001 (Cth) – carrying on financial services business without an Australian Financial Services Licence in contravention of s 911A of the Corporations Act – investor funds advanced in the form of loans – investor funds were to be pooled and invested into real property projects managed by second defendant – some investor funds or scheme property used by first defendant for benefit of herself and other defendants – many investors not repaid – capital invested likely to have been lost – fourth defendant as director of second defendant breached duty of care and diligence – parties have agreed to entry of judgment against defendants and to facts of contravening conduct – winding up unregistered managed investment scheme – disqualification from managing corporations – appointment of receivers
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2023/2023fca0599
For more information, see the original judgement.
