Asic targets more Macro companies

A week after the Federal Court ordered a wind-up of Macro Group, the corporate watchdog has sought the same action for a number of special purpose companies connected with the failed Pilbara-based property developer.

The Australian Securities and Investments Commission said today it had applied to the Federal Court for KPMG representatives to be appointed as liquidators to 19 special purpose vehicle companies associated with Macro.

All 19 companies list Macro owner Veronica Macpherson as a director.

“Asic alleges that the special purpose vehicle companies are connected with fundraising efforts for property developments associated with the Macro Group, including the Newman Estate,” Asic said in a statement.

“Asic alleges in its application for the appointment of directors that the companies have been involved in multiple contraventions of corporations legislation and are not complying with their obligations under that legislation, and the companies are not being properly managed and are suspected to be insolvent.”

The matter is scheduled to appear before the Federal Court in mid-July.

The special purpose vehicle companies are listed below:

1. AGKM Green Pty Ltd;
2. BA Sullivan Pty Ltd;
3. Christians Holdings WA Pty Ltd;
4. Ferrous Ferric Pty Ltd;
5. Macpherson Realty Options Pty Ltd;
6. Splendiferous Enterprises Pty Ltd;
7. Aiple Enterprises Pty Ltd;
8. Brayst WA Pty Ltd;
9. Chippere Pty Ltd;
10. EDWA14 WA Pty Ltd;
11. MCKST Pty Ltd;
12. Newkins WA Pty Ltd;
13. Kurst WA Pty Ltd;
14. MacOften Pty Ltd;
15. MRF Kurra Pty Ltd;
16. Dee Vee Enterprises Pty Ltd;
17. Hedland Projects Pty Ltd;
18. Macro Projects TS PH Pty Ltd; and
19. Prime Holdings Group Pty Ltd.

It follows news last week that the Federal Court had appointed KPMG representatives as liquidators of Macro after declaring the company was insolvent.