OCV octaviar limited

financial iquiry, asic contribution

  1. 7,867 Posts.
    ASIC has submitted a massive 273 page compilation of its well prepared organisational dictum.
    In a section "Table 24: Major collapses: Recent ASIC outcomes"; on page 190, this is mentioned along with other matters handled by ASIC:

    MFS (Octaviar)

    MFS Limited (now known as Octaviar Limited) and a number of its subsidiaries were placed into administration in 2008.

    Civil proceedings against MFS Investment Management Ltd (MFSIM), a subsidiary of MFS Limited and four former officers and one manager of MFSIM. The proceedings relate to the use of $147.5 million in funds of the Premium Income Fund (PIF), for which MFSIM was the responsible entity at the relevant time. The trial is now part-heard in the Supreme Court of Queensland.
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    Well, not yet an "outcome" for ASIC, but PIFers are a hardy lot well trained in indefinite waiting.
    Unable to comment on ASIC's self-appraisals sprinkled throughout their vast submission.

    Regards,



 
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