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Care A2 Plus in legal stoush over loan default

Max Mason and Carrie LaFrenz

Feb 26, 2023 – 3.05pm

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Care A2 Plus has become embroiled in a dispute with its lenders, who allege the infant formula manufacturer has defaulted on a $2.2 million loan ahead of a potential listing on the ASX.

But Care A2 Plus, one of a few companies handed a lucrative licence to import infant formula into the US, says Gemi Investments had inappropriately appointed a liquidator to oversee the sale of a Melbourne property against which the loan was secured.

Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.