Regulatory Alerts2025-10-16
Federal Court Orders Remaining ALAMMC Group Companies Wound Up
The Federal Court has ordered the winding up of 13 remaining ALAMMC Group companies following receiver reports highlighting significant misuse of $91.6 million in investor funds and corporate insolvency. ASIC successfully sought these orders on just and equitable grounds due to intermingled funds, minimal construction activity, and potential breaches of directors' duties. BDO has been appointed as official liquidators to investigate assets, communicate with investors, and pursue recovery actions to protect creditors.
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