The ALAMMC Group (Receivers Appointed)

Appointment

On 1 November 2024, Andrew Fielding and Helen Newman were appointed Joint and Several Receivers to the Group.

Further information regarding ASIC’s investigations is available on ASIC’s website: https://asic.gov.au/about-asic/asic-investigations-and-enforcement/enforcement-activities/alammc-developments/

For all investor enquiries, please email ALAMMC.enquiries@bdo.com.au or leave a message on (07) 3811 4444.

Further Information:

  1. The Group – List of Entities
  2. Federal Court of Australia Appointment Orders (1 November 2024)
  3. Federal Court of Australia Orders - Brisbane (3 December 2024)
  4. Federal Court of Australia Orders - Adelaide (3 December 2024)
  5. FAQs of Investors.

Investors

Investors were provided with a notification of our appointment on 8 November 2024. A further update to investors was issued on 17 December 2024.
 
If you are an investor of the listed entities above and you have not received any of the abovementioned correspondence from the Receivers, we ask that you please contact this office by email at ALAMMC.enquiries@bdo.com.au as soon as possible to assist the Receivers in their investigations and obtain copies of the correspondence.

Entities not under the Receivers’ appointment

Our appointment as Receivers is limited to the defendants outlined in the List of Entities above. If you invested in an entity not listed, our appointment as Receivers does not cover that entity and we cannot comment on the financial position or administration status of such an entity.

In the event you invested in an entity not listed in the List of Entities, but paid your investment into an account held by one of the defendants, you cannot be recorded as an investor of the defendant who received your investment deposit. You may be classified as another class of creditor.

  • ALAMMC Developments 8 Pty Ltd (ALAMMC 8)
    Although not appointed to ALAMMC 8, we are maintaining a list of investors in the event that the scope of our appointment changes, or if an administrator is appointed to ALAMMC 8.
  • Mountain Asset Partners Pty Ltd (In Liquidation) (Mountain Asset)
    The Receivers are not appointed to Mountain Asset.  We advise that Mountain Asset entered into Liquidation on 29 November 2024, with William Robson of Robson Cotter Insolvency Group appointed as Liquidator.  Investors with queries related to Mountain Asset are asked to contact Robson Cotter’s office.

Next Update

The Receivers’ report is due to be delivered to the Federal Court of Australia on or before 25 February 2025.

Once lodged, the timeframe for the Court to consider the Receiver’s report is not known. The future of the Defendants (both corporate and non-corporate) and whether the current appointments remain in effect, and if so, in what form, is a decision for the Court.

Once the decision of the Court is known we will provide a further update to investors.