ASIC has obtained orders freezing investment companies assets
ASIC has obtained orders in the Federal Court of Australia at Melbourne yesterday freezing the assets of CME Capital Australia Pty Ltd, Boston Pacific Capital Australia Pty Ltd and GKN Capital Pty Ltd.
ASIC sought the orders after concerns that the companies were soliciting investments from the public without proper disclosure and the way the funds have been applied.
Justice Mark Moshinsky ordered the companies (along with Boston Pacific Capital Pty Ltd and IMCG Pty Ltd) be restrained from:
- removing any company property;
- selling, charging, mortgaging, dealing with, disposing of or diminishing the value of any company property;
- incurring new liabilities; and
- withdrawing, transferring, disposing of or dealing with any monies available to the companies.
Mr Michael Petrou (the sole director of CME Capital Australia Pty Ltd, Boston Pacific Capital Australia Pty Ltd, Boston Pacific Capital Pty Ltd and GKN Capital Pty Ltd) and Mr Branislav Grujicic (the sole director of IMCG Pty Ltd) were also ordered to surrender their passports to the court and be restrained from leaving Australia.
ASIC sought the injunctions to protect investor funds while an ASIC investigation is continuing.
The matter has been listed for a further hearing on 10 December 2015 at 10.15am.
Source: ASIC
