Search

Heat squarely on Westpoint

AUSTRALIAN Securities and Investments Commission has turned the heat up on the embattled Westpoint Group with new litigation action as part of ongoing efforts to get to the bottom of its mezzanine finance structures. ASIC lodged legal action in the Federal Court prior to Christmas to force Westpoint to produce documents to clarify the issue of shifting investors between Westpoint investment schemes. They also seek to uncover the identity of financial advisers involved in placing clients into the mezzanine finance schemes. In other developments, Perpetual Trustees, Westpoint’s main financier, has appointed receivers to Westpoint’s Melbourne Market Street development. ASIC also has an application before the court to place Westpoint into liquidation on the back of suspected major asset shortfalls.

Login

(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

BNIQ sponsored byECU School of Business and Law

Students

6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
47 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer