Cor Cordis appointed as Voluntary Administrators over the iProsperity Group
Barry Wight, Jeremy Nipps and Alan Walker of the Restructuring Advisory firm Cor Cordis have been appointed Voluntary Administrators to the following iProsperity Group (IPG) entities:
§ i-Prosperity Pty Ltd (Administrators Appointed) (ACN 142 091 585) |
§ iProsperity Underwriting Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) (ACN 619 068 969) |
§ iProsperity Australia Pty Ltd (Administrators Appointed) (ACN 162 090 146) |
§ iProsperity Group Holdings Limited (Administrators Appointed) (ACN 629 625 270) |
§ i-Prosperity Group Pty. Ltd. (Administrators Appointed) (ACN 607 564 527) |
§ iProsperity Holding Group Pty Ltd (Administrators Appointed) (ACN 613 639 188) |
§ G&H Partners Co Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) (ACN 164 926 443) |
§ Cornerstone Capital Investment Group Pty Ltd (Administrators Appointed) (ACN 612 659 079) |
§ iPG Fund Services Pty Ltd (Administrators Appointed) (ACN 622 910 187) |
§ i-Prosperity Capital Management Pty Ltd (Administrators Appointed) (ACN 635 134 977) |
§ i-Prosperity Capital Pty Ltd (Administrators Appointed) (ACN 605 317 360) |
§ iProsperity Cornerstone Management Pty Ltd (Administrators Appointed) (ACN 620 127 291) |
§ IPG Asset Services Pty Ltd (Administrators Appointed) (ACN 626 208 508) |
The appointment of Voluntary Administrators does not extend to the underlying investments of funds managed by the respective IPG entities.
Cor Cordis Partner and Voluntary Administrator Barry Wight said:
"Our urgent focus is on stabilising the iProsperity Group and commencing a full and thorough investigation into its affairs, including certain court proceedings that remain on foot.
"It remains too early to determine whether a viable restructure plan can be developed, but we look forward to working closely with the iProsperity Group's stakeholders over the coming weeks."
