Mayfair 101 Bulletin
An update from Levitt Robinson Solicitors, the firm who are looking to commence class action proceedings on behalf of Investors. Please note such proceedings against the enablers and overseers of Mayfair Platinum and Mayfair 101 are imminent rather than currently on foot.
As you would be aware, the provisional liquidators, Said Jahani and Philip Campbell-Wilson of Grant Thornton, were appointed liquidators of M101 Nominees, the issue for Mayfair 101’s $67,000,000.00 in M Core secured notes by the Court on 31 January, 2021.
We are sensitive to the concerns of investors who feel let down by ASIC. However inappropriately the gilded goose may have behaved, there is widespread concern among investors that ASIC prematurely killed that very goose, before it just might have laid a golden egg.
You might believe that ASIC should have prevented the whole thing from happening and what has been highlighted by this débâcle is that despite all of the corporate shenanigans in the pre-GFC world, ASIC still has not ensured that proper processes are followed by predatory promoters of financial products before the damage is done.
We wish to make it perfectly plain that we are not making any allegations or ascribing any characteristics to any person involved in the Mayfair disaster.
However, one would have thought that the regulator had learnt its lesson from all of the terrible deals which slipped between the cracks in the first decade of this century, to make sure that those cracks did not expand into yawning chasms but rather, had been sealed.
We are in the process of briefing Senior and Junior counsel to represent you in a Class Action in which you will have to opt-in, which will proceed on a “No-Win, No-Pay” basis but with a Funder receiving a premium for its risk, as well as the reimbursement of its outlays.
Details will be provided in relation to such financial arrangements once we can offer them. In the meantime, we are proceeding on a speculative basis in your best interests.
Mayfair 101 Bulletin
An update from Levitt Robinson Solicitors, the firm who are looking to commence class action proceedings on behalf of Investors. Please note such proceedings against the enablers and overseers of Mayfair Platinum and Mayfair 101 are imminent rather than currently on foot.
As you would be aware, the provisional liquidators, Said Jahani and Philip Campbell-Wilson of Grant Thornton, were appointed liquidators of M101 Nominees, the issue for Mayfair 101’s $67,000,000.00 in M Core secured notes by the Court on 31 January, 2021.
We are sensitive to the concerns of investors who feel let down by ASIC. However inappropriately the gilded goose may have behaved, there is widespread concern among investors that ASIC prematurely killed that very goose, before it just might have laid a golden egg.
You might believe that ASIC should have prevented the whole thing from happening and what has been highlighted by this débâcle is that despite all of the corporate shenanigans in the pre-GFC world, ASIC still has not ensured that proper processes are followed by predatory promoters of financial products before the damage is done.
We wish to make it perfectly plain that we are not making any allegations or ascribing any characteristics to any person involved in the Mayfair disaster.
However, one would have thought that the regulator had learnt its lesson from all of the terrible deals which slipped between the cracks in the first decade of this century, to make sure that those cracks did not expand into yawning chasms but rather, had been sealed.
We are in the process of briefing Senior and Junior counsel to represent you in a Class Action in which you will have to opt-in, which will proceed on a “No-Win, No-Pay” basis but with a Funder receiving a premium for its risk, as well as the reimbursement of its outlays.
Details will be provided in relation to such financial arrangements once we can offer them. In the meantime, we are proceeding on a speculative basis in your best interests.
