ASIC moves to shut down ‘financial mentor’
The Australian Securities and Investments Commission (ASIC) has applied to wind up companies associated with “financial mentor” Andrew Carr, of Ashgrove in Brisbane.
The companies are Nimshay Pty Ltd, trading as Superior Wealth Creation and Superior, Bay Investments Pty Ltd, Baynoosa Pty Ltd, Lenlil Pty Ltd, Baylink Investments Pty Ltd and Nimshay Holdings Pty Ltd.
ASIC also applied for a declaration that Carr carried on a financial services business without holding an Australian Financial Services Licence and an injunction permanently restraining him from doing so in future.
At hearings on July 24 and 26, ASIC was granted leave to apply for winding up of the companies.
Existing freezing orders against Carr and the companies, first obtained in June, were extended with a variation allowing the receivers and managers of the companies, Ian Hall and Stephen Longley of PricewaterhouseCoopers, to deal with the assets.
On July 27, ASIC filed an amended application seeking the winding up of the companies and the declaration and injunction against Carr.
The matter will return to court on August 18.
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