The Supreme Court will hear applications to wind up the group of companies tied to Mayfair 101's IPO Wealth Fund after trustee Vasco said it was concerned by “a recent burst of activity” by the group's founder James Mawhinney.
In a hastily convened hearing, trustee Vasco's lawyer Carrie Rome-Sievers said Mr Mawhinney had “played on the fears of unitholders who are in difficult financial position” as he spent the weekend seeking their support to prevent the liquidation process.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
