The Federal Court of Australia has made orders for property investment company Global Capital Property Fund Limited (GCPF) to be wound up on just and equitable grounds, appointing Ross Blakely and Kelly-Anne Trenfield of FTI Consulting as liquidators.
The Australian Securities and Investments Commission (ASIC) applied for the winding-up of GCPF as it holds numerous concerns about the management of GCPF’s business.
On 20 June 2024, ASIC obtained interim orders from the Federal Court freezing the assets of GCPF and related financial advice licensee United Global Capital Pty Ltd (UGC) (now in liquidation).
The Court subsequently discharged the freezing…
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