Mayfair 101 has appointed Barry Wight, Darryl Kirk and Rachel Burdett of Cor Cordis as voluntary administrators to protect the IPO Wealth Fund investors from the liquidation of assets.
The decision to undergo a voluntary administration process is centred on providing IPO Wealths investors with the opportunity to convene a unitholder meeting and vote on a proposal from the Mayfair 101 Group to restore monthly distributions and facilitate redemptions in a timely manner, preserving the value for our investors, a spokesperson for Mayfair 101 said. Nearly 70per cent of our investors have already shown their support for calling a unitholder meeting.
The announcement comes after news that trustee Vasco had appointed receivers from Dye & Co to …
Read the full article at: https://www.ifa.com.au/news/28144-mayfair-101-puts-subsidiary-in-voluntary-administration
