Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities & Investments Commission, in the matter of GDK Financial Solutions Pty Ltd (in liq) v GDK Financial Solutions Pty Ltd (in liq) [2007] FCA 1600
CORPORATIONS – unregistered managed investment scheme – promoter – winding up – just and equitable AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION v GDK FINANCIAL SOLUTIONS PTY LTD (IN LIQUIDATION) and Others (according to the attached Schedule of Parties) VID 590 of 2006
FINKELSTEIN J
19 OCTOBER 2007
MELBOURNE
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY VID 590 of 2006
IN THE MATTER OF GDK FINANCIAL SOLUTIONS PTY LTD (IN LIQUIDATION) AND OTHERS BETWEEN: AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION
Plaintiff
AND: GDK FINANCIAL SOLUTIONS PTY LTD (IN LIQUIDATION) and OTHERS (according to the attached Schedule of Parties)
Defendants
JUDGE: FINKELSTEIN J
DATE: 19 OCTOBER 2007
PLACE: MELBOURNE
THE COURT ORDERS THAT:
1. The Third Defendant, Western Retirement Village Management Pty Ltd, be wound up.
2. Mark Francis Xavier Mentha of Level 24, 333 Collins Street, Melbourne VIC and Brian Keith McMaster of Level 11, 37 St Georges Terrace, Perth WA, both of KordaMentha, be appointed joint and several liquidators of the Third Defendant (in that capacity referred to hereinafter as the "Western Liquidators").
3. Notwithstanding the preceding orders, the Mews Land is to remain in the possession of the Mews Receivers pending the completion of the winding up of the Mews Scheme or until further order.
4. The Western Liquidators shall be entitled to reasonable remuneration and reasonable costs and expenses properly incurred in the performance of their duties and the exercise of their powers as liquidators of the Third Defendant, the remuneration to be calculated on the basis of time reasonably spent by them and their staff at the rates specified in the consent to act filed with the Court, such remuneration, costs and expenses to be paid out of the assets of the Third Defendant.
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