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Showing 111 - 120 of 957 results for "Federal Court"

Ascent Investment mastermind cops 33 criminal charges

KARREN VERGARA  |  MONDAY, 12 MAY 2025
... remain in Australia. Ascent owed some $149 million to clients and had $4 million in assets. The following year, the Federal Court appointed Matthew Donnelly and Sean Holmes of Deloitte Financial Advisory as provisional liquidators of Ascent. In 2023 ...

HCF Life fined $750k for misleading contract term

KARREN VERGARA  |  FRIDAY, 9 MAY 2025
HCF Life Insurance has been fined $750,000 by the Federal Court for misleading the public about a pre-existing condition term under its Recover products. Last October, the court ruled the term would deny coverage if a customer did not disclose a pre-existing ...

Federal Court hammers defunct advice firm with $11m penalty

ANDREW MCKEAN  |  MONDAY, 28 APR 2025
... self-managed super funds (SMSFs) and use those funds to purchase property through a related entity, Equiti Property. The Federal Court found that advice to 12 clients was "cookie cutter" and failed to consider their individual circumstances or objectives. ...

ASIC loses Block Earner case

KARREN VERGARA  |  WEDNESDAY, 23 APR 2025
The Federal Court has vindicated Block Earner by overturning a decision that it needed an AFSL to offer its Earner product and dismissing ASIC's appeal to impose penalties on the digital asset platform. Justices O'Callaghan, Abraham and Button ...

Shield Master Fund terminated, new receivers for Keystone Asset Management

KARREN VERGARA  |  WEDNESDAY, 16 APR 2025
... and Michael Korda of KordaMentha were appointed as voluntary administrators of Keystone. On 5 September 2024, the Federal Court ordered to remove the prior administrators and have Jason Tracy and Lucica Palaghia from Deloitte appointed as the replacement ...

Falcon Capital, First Guardian fund to be wound up

MATTHEW WAI  |  FRIDAY, 11 APR 2025
... to freeze the assets of the First Guardian Master Fund and its responsible entity Falcon Capital last month, the Federal Court has ordered both the fund and the entity to be wound up. In response to a petition by ASIC, the court has appointed Ross Blakeley ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... (AFSL). In cancelling UGC's licence, ASIC required it to remain a member of AFCA until at least May 31. The Federal Court ordered the wind up of the Global Capital Property Fund (GCPF) last October. GCPF invested in large-scale property development ...

Court approves Caddick SMSF class action settlement

KARREN VERGARA  |  WEDNESDAY, 2 APR 2025
The Federal Court has approved the settlement amount of $3.54 million for Melissa Caddick victims who brought a class action against auditors that failed to detect fraudulent activities in their SMSFs. Michael Chapman, a director at Mackay Chapman ...

Active Super fined $10.5m for greenwashing

KARREN VERGARA  |  TUESDAY, 18 MAR 2025
... credentials purported to eliminate investments in Russian companies and others involved in mining and tobacco, the Federal Court determined this morning. Justice O'Callaghan said it is not disputed that the super fund's "contraventions were serious" ...

Falcon Capital, First Guardian Master Fund set for liquidation

KARREN VERGARA  |  TUESDAY, 18 MAR 2025
... manager to director David Anderson's personal property. The regulator has put into motion the applications to the Federal Court while it continues to investigate allegations against the parties that allegedly failed to manage conflicts of interest. ...