The quiet death of Mayfair 101 founder’s ASIC conspiracy theory
A Federal Court judge has ruled that James Mawhinney’s $1.6 billion Dunk Island vision was not only fatally flawed, its collapse could not be blamed on ASIC.
One of the longest-running false narratives in Australian business that I have seen in 42 years of finance journalism quietly died this month, but there is no sign it will be buried any time soon.
I am talking about the claim by James Mawhinney, who founded the Mayfair 101 Group of companies, that the COVID-19 pandemic and the Australian Securities and Investments Commission destroyed his $1.6 billion vision for a “tourism mecca” in Far North Queensland.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
