A key financier to investment outfit Mayfair 101 has appointed McGrath Nicol as a receiver to recover loans related to 107 Mission Beach properties.
In a statement late on Thursday, NSW based investment group Naplend – whose backers include, as the Financial Reviewrevealed in March, Freedom Furniture co-founder Peter Palan – said its decision followed recent Federal Court orders and the appointment of provisional liquidators to Mayfair entities late last week.
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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
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
