The Australian Securities and Investments Commission (ASIC) today confirmed that the Federal Court has found Melissa Caddick and her company, Maliver Pty Limited, conducted unlicensed activities. In particular, Ms Caddick and her firm carried on a financial services business without holding an Australian Financial Services licence, contrary to section 911A of the Corporations Act.
The Court also issued orders that:
- Bruce Gleeson and Daniel Soire of Jones Partners be appointed as receivers of the property of Ms Caddick; and
- Maliver be wound up, and Bruce Gleeson and Daniel Soire of Jones Partners be appointed as the liquidators.
The collection and distribution of assets will be handled by the receivers and liquidators, subject to the Court’s oversight.
The Court found Ms Caddick operated without an AFS licence from about October 2012 until about November 2020. Ms Caddick’s company, Maliver, operated without an AFS licence from about June 2013 and until November 2020.
Let’s recall that, about a year ago, following an application by ASIC, the Federal Court made interim orders on 10 November 2020 against Maliver and its sole director, Melissa Louise Caddick. The orders included prohibitions against the defendants removing assets (including funds held in bank accounts) from Australia, disposing of those assets, diminishing their value or incurring new liabilities. There was also a prohibition against Ms Caddick leaving Australia.