The Supreme Court of Queensland has ordered the surrender of the passport of LM Investment Management founder Peter Drake, restrained his travel out of Australia and frozen his assets, as the Australian Securities & Investments Commission (ASIC)’s investigation into the fund management firm continues.
Investors in the beleaguered LM Managed Performance Fund have been told they could receive less than 5 cent in each dollar they invested.
Peter Drake, the founder of LM Investment Management, hits back at the Advisers Committee for Investors and other critics. Published here exclusively.
In the wake of last week’s winding up order by the Supreme Court of Queensland of LM Investment’s First Mortgage Income Fund, the Advisers Committee for Investors lashed out at what it said were “multiple failings" within Australia’s regulatory system, for having permitted the fund to get into the state it did…
The Supreme Court of Queensland has ordered the LM Investment Management First Mortgage Income Fund to be wound up.
A founding member of a group established to represent investors in failed asset manager LMIM has raised concerns over the administrator’s recent proposal to wind up the company.
The administrator of LM Investment Management, the failed Australian property investment firm, has recommended the company be wound up.
Seven IFA firms have formed the ‘UAE chapter’ of an adviser-led organisation representing clients who invested in funds run by failed LM Investment Management.
The trustee of a fund managed by failed Australian asset management company LM Investment Management ran up costs of three-quarters of a million dollars in the nearly eight weeks following its appointment, according to a recent investor update.
The trustee of the suspended LM Managed Performance Fund has warned investors that two options, which would have likely offered the best return to investors, are currently not feasible due to a lack of funding.
Advisers acting for investors in the stricken range of LM Investment Management property funds, has raised concerns over the sale to Goldman Sachs of A$1.6bn of ‘non-core’ assets by a company with a first mortgage charge over a key investment property.
A group of advisers with clients invested in the LM Investment Management fund range have come together to form a committee to represent investors.
