ob体育 has begun urgent civil proceedings against company director David McWilliams and several of his companies that offered investment opportunities for purpose-built, NDIS-compatible property development schemes across Australia.
On 11 September 2024, the Federal Court made orders preserving the assets of ALAMMC Developments Pty Ltd, SDAMF Pty Ltd, Harvey Madison Capital Pty Ltd and Coral Coast Mutual Pty Ltd, and other related entities.
Orders were also made preserving the assets of Mr McWilliams and his partner, Laura Fullarton, and restraining Mr McWilliams from leaving Australia.
ob体育 is investigating the businesses conducted by Mr McWilliams and his companies in relation to the provision of financial services and use of investor funds from 1 January 2021.
ob体育 opened its investigation after receiving information in relation to Mr McWilliams鈥� gambling activities.
On 16 September 2024, the Federal Court extended the asset preservation and travel restraint orders made on 11 September 2024. The matter is next listed for hearing on 27 September 2024.
Any person who is an investor in ALAMMC Developments Pty Ltd, SDAMF Pty Ltd, Harvey Madison Capital Pty Ltd and Coral Coast Mutual Pty Ltd or the other related entities and has concerns can contact ob体育 at [email protected].
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Background
The companies that are subject to the court orders are:
- ALAMMC Developments Pty Ltd
- ALAMMC Developments 2 Pty Ltd
- ALAMMC Developments 3 Pty Ltd
- ALAMMC Developments 4 Pty Ltd
- ALAMMC Developments 5 Pty Ltd
- ALAMMC Developments 6 Pty Ltd
- ALAMMC Developments 7 Pty Ltd
- SDAMF 2 Pty Ltd
- SDAMF 3 Pty Ltd
- SDAMF 4 Pty Ltd
- Mortgage Mutual Fund Pty Ltd
- Harvey Madison Capital Pty Ltd and
- Coral Coast Mutual Fund Pty Ltd.
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Editor's Note:
The hearing listed for 27 September 2024 was adjourned and has been listed for a hearing on 21 October 2024 before Justice O鈥橲ullivan.
Editor鈥檚 Note 2:
On Friday 18 October, the matter as it relates to the 1st to 13th defendants was listed for hearing on 1 November 2024 before Justice O鈥橲ullivan. On Monday 21 October, the hearing on ob体育鈥檚 application for the appointment of receivers to the property of the 14th and 15th defendants was heard before Justice O鈥橲ullivan.听听Judgment has been reserved.
Editor鈥檚 Note 3:
On 22 October 2024, the Federal Court made orders appointing Helen Newman and Andrew Fielding of BDO as receivers and managers of the property of the 14th (David McWilliams) and 15th defendants (Laura Fullarton). For more information see 24-236MR Federal Court appoints receivers to director of ALAMMC Developments.
Editor鈥檚 Note 4:
On 1 November 2024, the Federal Court made orders appointing Helen Newman and Andrew Fielding of BDO as receivers of the property of 1st to 13th defendants (ALAMMC Developments Pty Ltd and 12 related corporate entities).听听 For more information see 24-245MR Federal Court appoints receivers to ALAMMC Developments.