Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

7887

ASIC obtains orders to wind up Global Rule

RELATED TOPICS​

The Australian Securities and Investments Commission (ASIC) has obtained orders, by consent, in the Supreme Court of Queensland appointing Michael McCann, of Grant Thornton, as liquidator of Global Rule Pty Ltd (Global Rule) and as trustee of the Global Rule Trust.

Freezing orders were also made restraining the disposal of any property by Global Rule’s director, Frederick Leslie Hansen, for 12 months. Global Rule’s other director, William John Meywes, was declared bankrupt on 22 October 2010.

Global Rule raised funds from individuals who were offered 21.6% per annum in interest payments through unsecured loan agreements. The receivers’ report, prepared in October 2010, estimated that around 170 individuals loaned money to Global Rule and that approximately USD16.3 million is still owed to lenders.

ASIC’s investigations are continuing.

Latest News

Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15..
New analysis by London-based Nickel Digital Asset Management reveals 38 listed companies with a combined..
Bloomberg has announced that for the first time, its proprietary Bloomberg Second Measure (BSM) transaction..

Related Articles

Global ESG Investing
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of climate change and ESG factors in state policymaking...
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of..
Trends
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100 million deals announced this month alone...
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100..
Different flavours
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led, multi-boutique global asset manager with over USD20 billion under management, recently undertook a survey with 204 UK investment professionals, seeking insights into their perceptions and attitudes towards boutique asset managers...
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led,..
UK map
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be worth billions of pounds in the coming years...
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by