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Troubled Mayfair 101 to return within months

Less than a year after the 20-year fundraising ban on James Mawhinney was lifted, troubled financial services firm Mayfair 101 has announced it plans to relaunch within months.

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Mayfair 101 company to be wound up

The Federal Court has ordered the winding up of M101 Nominees, as the first of a number of outcomes due to arise from ASIC’s court actions against Mayfair 101 Group and its director. M101 Nominess,

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ASIC succeeds in winding-up Mayfair 101 debenture issuer

Date Time
ASIC succeeds in winding-up Mayfair 101 debenture issuer
Following an application by ASIC, the Federal Court has ordered the winding up of M101 Nominees Pty Ltd, which issued secured debentures promoted by Mayfair 101 known as M Core Fixed Income Notes.
This is the first final outcome arising from ASIC’s court actions issued against Mayfair 101 Group companies and their director James Mawhinney. In this action, ASIC sought to protect the assets of M101 Nominees and the interests of M Core noteholders in circumstances where:
the product issuer had informed current investors of a liquidity event;
there appeared to be insufficient funds to repay investors; and

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