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Blue Sky Alternative Investments

December 2024

Mark Sowerby’s suit over the collapse of Blue Sky is not going well.

Blue Sky conspiracy case against hedge fund and Aston sputters out

An “embarrassing” and “scandalous” attempt to sue those deemed responsible for Blue Sky’s demise isn’t going well.

  • Myriam Robin

December 2022

Since 2016, Vinomofo has generated $300 million of sales for cumulative losses of $9 million.

More red ink at Vinomofo

Since 2016, Vinomofo has generated $300 million of sales for cumulative losses of $9 million. 

  • Joe Aston

November 2022

Blue Sky Alternative Investments went into administration and receivership in May 2019.

Blue Sky’s shoe, student venture under spotlight in lawsuit

Another class action lawsuit has been lobbed against the former stockmarket-darling fund manager, and its big four auditing outfit.

  • Max Mason, Liam Walsh and Jonathan Shapiro

September 2022

Elaine Stead with barrister Sue Chrysanthou, SC.

Elaine Stead’s new VC firm in website whoopsie

Imitation is said to be the sincerest form of flattery, but what of outright plagiarism?

  • Michael Roddan
Mark Sowerby, one of the founders of Blue Sky.

Blue Sky’s Mark Sowerby in for the hard sell

His five-bedroom, double-waterfront Burleigh Heads property is slated for auction on Friday afternoon. 

  • Michael Roddan
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August 2022

Blue Sky Alternative Investments went into administration and receivership in May 2019. It is facing the first of potentially multiple class actions.

Blue Sky directors, auditors and EY face class action

Class action law firm Banton Group is going after collapsed Blue Sky Alternative Investments, its directors and its auditors, big four firm EY, alleging investors were hurt by overstated claims about the company’s financial performance and asset value.

  • Updated
  • Max Mason, Jonathan Shapiro and Liam Walsh
Blue Sky Alternative Investments went into administration and receivership in May 2019. Class action law firms including Shine and Piper Alderman are reviewing its disclosures.

Shine, Piper Alderman team up for Blue Sky legal action

Class action law firms Shine and Piper Alderman will jointly pursue the bankrupt Blue Sky Alternative Investments, rather than file overlapping and competing cases. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

April 2022

Blue Sky’s Vinomofo going nowhere

Five long years since Blue Sky plunged in, Vinomofo is still barely profitable.

  • Joe Aston

April 2021

The front page of the Sydney Morning Herald

Sold short: USyd takes cash for comment

Corporate spin doctors Domestique Consulting won front page coverage for ‘short and distort’ research produced by the University of Sydney at a cost of $7272.

  • Michael Roddan

March 2021

Black humour: Mayfair 101 director James Mawhinney.

Mayfair global precedent

The court ruling that Mayfair 101 engaged in false online advertising breaks new legal ground, after reporting by The Australian Financial Review that first questioned Mayfair’s investment product spruiking.

  • The AFR View
Three litigation firms are taking out class actions against Blue Sky.

Blue Sky class action push gets a boost

The granting of rights to inspect investment, audit and insurance documents could help determine the viability of class actions over the failure of ASX-listed Blue Sky Alternative Investments.

  • Max Mason and Liam Walsh

February 2021

“Unwillingness to face up”: Elaine Stead.

Costs win for venture capitalist in defamation case

It was ‘unreasonable’ for The Australian Financial Review to reject Elaine Stead’s settlement offer, a judge has ruled.

  • Michael Pelly

January 2021

Elaine Stead wom aggravated damages against Financial Review columnist, Joe Aston.

No Blue Sky accountability in Aston’s case

Justice Michael Lee said the nature of Blue Sky’s demise warranted the focus and comment of Joe Aston but the judge found Aston went too far in his comments on Elaine Stead.

  • Tony Boyd
Businesswoman Elaine Stead leaves the Federal Court last year.

Blue Sky manager could still be out of pocket after $280k award

Legal fees could dwarf the damages awarded to venture capitalist Dr Elaine Stead over columns by The Australian Financial Review’s Joe Aston.

  • Updated
  • Michael Pelly
Blue Sky raised $100 million from investors just before short sellers exposed its poor disclosures.

Class action law firms reveal Blue Sky investor devastation

Blue Sky’s sudden collapse has destroyed wealth and confidence in the financial system, say lawyers pursuing the company, its directors and auditors.

  • Jonathan Shapiro and Liam Walsh
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Soren Aandahl: “Investors should always be wary of a company that thrives on a lack of transparency.”

Fizzled Blue Sky a lesson in need for transparency: short-seller

ASX-listed Blue Sky went from a peak valuation of more than $1b to the trash pile of delisting as investors lost faith in the funds management enterprise.

  • Jonathan Shapiro and Liam Walsh

December 2020

Elaine Stead and barrister Sue Chrysanthou, SC outside the Federal Court on Tuesday.

Elaine Stead testimony buoys Blue Sky class actions

Plaintiff lawyers have pounced on court testimony provided by former Blue Sky director Elaine Stead as they prepare for a shareholder litigation suit.

  • Aleks Vickovich
Managed fund holdings are as top secret as KFC's herbs and spices.

Why fund managers are so secretive

Investment fees and portfolio holdings are as hushed up as KFC's 11 herbs and spices, but there's more to it than just safeguarding the recipe.

  • Aleks Vickovich

July 2020

'Make real money': Client sues over 'sophisticated' investor tag

A woman who says she lost hundreds of thousands of dollars investing in Blue Sky claims she was wrongly steered to class herself as a “sophisticated” investor.

  • Liam Walsh

April 2020

The Blue Sky fund for the Coral Cay motel in Mackay was among those cited in the case.

'Not personal advice': Morgans defends Blue Sky tip

The national stockbroker and a Mackay branch manager say an investor had signed up as a sophisticated investor.

  • Liam Walsh

Original URL: https://www.afr.com/company/bla-a4