ASIC has applied to the Supreme Court of New South Wales to wind up 12 companies associated with NSW accountant and former solicitor Christopher Malcolm Edwards on just and equitable grounds.
ASIC has also applied for the appointment of provisional liquidators to the companies to enable an independent assessment of the companies' affairs and protect the interests of creditors and investors while the Court considers the winding-up application.
ASIC has taken this action because it holds concerns about the management and affairs of these companies. The companies being:
- Ironbark Holdings Australia Pty Ltd
- Great Northern Developments Pty Ltd
- GND Construction Management Pty Ltd
- Great Northern Bundaberg Pty Ltd
- Great Northern Investments Pty Ltd
- Great Northern Morayfield Pty Ltd
- Great Northern Phoenix Group Pty Ltd
- Great Northern Properties Pty Ltd
- Great Northern Victoria Pty Ltd
- Ironbark Energy Pty Ltd
- Knightsbridge Realty Pty Ltd, and
- Richmond Corporation Pty Ltd.
ASIC's concerns include that:
- the companies continue to raise funds in circumstances where the application of that money raised from investors is unclear
- the companies have significant unsecured interest-bearing liabilities to investors which significantly exceed the known assets of the companies
- the companies have failed to comply with statutory obligations to prepare and lodge audited financial statements for the financial years ended 30 June 2022 to 30 June 2025, in accordance with ASIC's directions issued under sections 294 and 321 of the Corporations Act, and
- the companies show limited signs of business income or commercial activity, and developments associated with the companies have not progressed.
ASIC's applications for appointment of provisional liquidators and final winding up relief are not yet listed for hearing.
The matter will be before the Court at 10:00am on 13 April 2026 for directions.
ASIC's investigation of fundraising for the companies and the application of monies raised is continuing.
More information
For the latest updates on this matter, please visit ASIC's dedicated webpage Christopher Malcolm Edwards.
