Mr Daniel Farook Ali and the “Daniel Ali Scheme” – Receiver and Manager Appointed
Appointed by the Court on the application of the Australian Securities and Investments Commission to act as Receiver and Manager of the assets of DanFX Trade Pty Ltd and associated entities and as Receiver of the property of an individual involved in operating an unlicensed and unregistered managed investment scheme, which had raised approximately $13 million from more than 200 investors. Apart from taking control of the available assets, we were required to undertake investigations to identify how the investors’ funds were utilised and submit a report to the Court. We were subsequently appointed as Receiver of the Daniel Ali Scheme and as liquidator of the three companies in the scheme and as Receiver of the property of Mr Ali.
Pacific Services Group – Receiver and Manager and Agent
Appointed to Pacific Services Group, one of Australia’s leading electrical and communications providers and switchboard manufacturers which had outstanding debts of $10 million owing to its secured creditor. We were appointed both as Receiver and Manager to the companies in the group and as agent to collect the debtor book on behalf of the financier who owned the debtor book.