Aggregated News From Investment Management Regulators

Court appoints receivers to the property of Melissa Caddick and provisional liquidators to Maliver Pty Ltd

Report/Flag

Please complete the required fields.



On 15 December 2020, following a successful ASIC application, the Federal Court ordered the appointment of receivers to the property of Melissa Louise Caddick (Ms Caddick) and provisional liquidators to Maliver Pty Ltd (Maliver).

The application arose from ASIC’s concerns, which included:

  • Maliver may be providing financial services without an Australian Financial Services Licence (AFSL);
  • the AFSL of another company may have been used without authorisation;
  • investor funds may have been unlawfully dealt with.

Bruce Gleeson and Daniel Robert Soire of Jones Partners were appointed as receivers of the property of Ms Caddick. Justice Markovic ordered that the receivers, by 15 February 2021, provide to the Court and ASIC a report that includes:

  • the assets and liabilities of Ms Caddick;
  • an opinion as to the solvency of Ms Caddick;
  • the amount of money received by Ms Caddick from funds paid to Maliver by investors for investment;
  • any investor funds held by Ms Caddick, any property acquired by Ms Caddick with investor funds and any payments made by Ms Caddick to third parties with investor funds and any other dealings by Ms Caddick with investor funds;
  • any money paid directly to Ms Caddick by investors for investment and any property acquired, any payments made and any other dealings, by Ms Caddick with such money; and
  • the receivers’ remuneration, costs and expenses.

Bruce Gleeson and Daniel Robert Soire of Jones Partners were also appointed as provisional liquidators to Maliver. Justice Markovic ordered that the provisional liquidators, by 15 February 2021, provide to the Court and ASIC a report that includes:

  • persons who have paid money to Maliver for investment, the amounts they invested, and whether, and to what extent, these amounts have been repaid;
  • identification of any bank accounts in which investor funds are held, any Property acquired with investor funds or any other dealings with investor funds;
  • identification of Maliver’s assets and liabilities;
  • an opinion as to the solvency of Maliver;
  • an opinion as to whether Maliver has proper financial records;
  • an opinion as to the claims that may be available to the liquidators for the recovery of funds for the benefit of creditors;
  • the likely return to creditors;
  • any other information necessary to enable the financial position of Maliver to be assessed;
  • an opinion as to whether Maliver has contravened any provisions of the Act and/or any other legislation; and
  • any suspected contraventions of the Act by any directors or officers of Maliver.

On 17 December 2020 the matter was further heard and remaining Orders finalised.

ASIC’s investigation is ongoing. The matter is next before the Court on 22 February 2021.

Any person who is concerned they have invested with the defendants can contact ASIC through email at [email protected].

Download

Orders made on 10 November 2020 (PDF 260 KB)

Orders made on 15 December 2020 (PDF 239 KB)

Orders made on 17 December 2020 (PDF 1.2 MB)

Background

Following an application by ASIC, the Federal Court made interim orders on 10 November 2020 against Maliver Pty Limited and its sole director, Melissa Louise Caddick (20-301MR).

This news item was originally published by the Australian Securities and Investments Commission (ASIC AU). For more information, please see the Source Link.

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

Tarcord Bank

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Remittance Order issued in RC No. 5983 of 2022 drawn against Pushpa Asoolal Bissa (PAN: BGXPB6906Q) in the matter of Greencrest Financial Services Limited.

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

Remittance Order issued in RC No. 5984 of 2022 drawn against Sarita Pradip Bissa (PAN: BGLPB8816M) in the matter of Greencrest Financial Services Limited.

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

Remittance Order issued in RC No. 6046 of 2022 drawn against Dinesh V Makwana (PAN: ANOPM9543M) in the matter of Sterling International Enterprises Limited.

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

Get the latest from Regulatory.News in your inbox!

×