Troubled Melbourne financial advice firm United Global Capital (UGC) has been put into liquidation by the Federal Court.
ASIC said that creditors had resolved to wind up UGC, and David Stimpson of SV Partners has been appointed as a liquidator.
UGC withdrew its application regarding the cancellation of its Australian financial services licence, which was cancelled on 31 July – the Administrative Appeals Tribunal (AAT) dismissed that application.
An application made by director Joel James Hewish regarding his 10-year ban is being reviewed by the AAT. Hewish was banned for 10 years from providing financial services, performing any function involved in carrying on of a financial services business, and controlling an entity that…
