Following an application by ASIC, the Federal Court made interim orders on 10 November 2020 against Maliver Pty Limited (Maliver) and its sole director, Melissa Louise Caddick (the defendants). 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;
- Ms Caddick leaving Australia.
ASIC’s application for these orders was made to protect consumers while ASIC investigates concerns that:
- Maliver may be providing financial services without an Australian Financial Services Licence (AFSL);
- the AFSL of another company may have been used without authorisation;
- investor funds may be unlawfully dealt with.
The defendants did not appear at the first case management hearing of the matter.
On 27 November 2020, ASIC sought a date for the hearing of its applications for the appointment of a provisional liquidator to Maliver and a receiver and manager of the property of Ms Caddick. The matter is next before the court on 8 December 2020.
ASIC’s investigation is ongoing.