The Australian Securities & Investments Commission (“ASIC”) commenced an investigation and legal proceedings against Maliver Pty Ltd (“the Company”) and Ms Caddick regarding alleged contraventions of the Corporations Act and obtained asset restraining orders against the Company and Ms Caddick.
Following an application by ASIC, Mr Bruce Gleeson and Mr Daniel Robert Soire were appointed Provisional Liquidators of the Company and Interim Receivers of the Property of Ms Caddick on 15 December 2020.
As Ms Caddick disappeared on 11 November 2020, we have not been able to interview her regarding any aspect of the Company or her financial affairs.
The Federal Court Orders required the Provisional Liquidators and Interim Receivers to conduct investigations and file reports with the Federal Court outlining their findings on certain aspects.
ASIC also considered the filed reports and applied to the Court for final orders to deal with the Company and Ms Caddick’s financial affairs. The Federal Court made Orders on 22 November 2021 on a final basis that Mr Gleeson and Mr Soire be appointed Liquidators of the Company and Final Receivers of Receivership Property (property owned by Ms Caddick).
Markovic J of the Federal Court made Orders that:
“Each of the defendants [being the Company and Ms. Caddick], by providing financial product advice and dealing in a financial product, contravened s 911A of the Corporations Act in that they carried on a financial services business without holding an Australian Financial Services Licence:
(a) in the case of the first defendant [Ms. Caddick], from about October 2012 and continuing until about November 2020; and
(b) in the case of the second defendant [the Company], from about June 2013 and continuing until about November 2020.”
In the Reasons for Judgment, Markovic J concluded at paragraph 283:
“In my opinion the evidence establishes that Maliver was a vehicle through which Ms. Caddick operated and was able to perpetrate a fraud on investors. That is, it was a sham or façade adopted to conceal the reality and was used by Ms. Caddick for that purpose. The reality was that the actions of Maliver were carried out at the behest of Ms. Caddick and it was Ms. Caddick who took all necessary steps, provided the purported advice and ran the scheme described above. In those circumstances, to the extent that it has been established that Maliver was conducting a financial services business without holding an AFSL in contravention of s 911A, it is apparent that, in fact, Ms. Caddick was also carrying on that business and doing so without holding an AFSL in contravention of s 911A of the Corporations Act.”
The Caddick case continues to attract significant interest, particularly surrounding her disappearance in November 2020, the discovery of her foot in February 2021 and her high-end luxury lifestyle which was ultimately funded by investors.
Asset Sale Links
Edgecliff Penthouse – being sold by Richardson & Wrench Double Bay, with the auction due to be held on Tuesday 10 October 2023. Further information can be found here
Past Asset Auction Sales
2016 Audi R8 Motor Vehicle – sold for $295,000 by Pickles Auctions
2016 Mercedes CLA45 Motor Vehicle – sold for $66,250 by Pickles Auctions
Dover Heights Property – sold on 28 October 2022 by Sydney Sotheby’s International Realty – https://www.realestate.com.au/sold/property-house-nsw-dover+heights-140455295
Artworks – sold on 22 November 2022 by Shapiro Auctions – https://www.shapiro.com.au/catalogue/sh221-australian-and-international-art/
Jewellery – sold on 7 December 2022 by Smith and Singer – https://www.smithandsinger.com.au/catalogue/AU0859
Designer and Luxury Goods – sold on 5 and 6 December 2022 by Shapiro Auctions – https://www.shapiro.com.au/catalogue/sh233-fine-jewelley-watches-and-luxury-goods/ and https://www.shapiro.com.au/catalogue/sh223-session-ii-fine-jewellery-watches-and-luxury-design/
General Household Items – sold on 27 March 2023 by Pickles Auctions
Melissa Caddick Media Statements
For media or PR enquiries regarding this matter, please contact Janyne Moore from In the Media PR via email email@example.com or 0450 686 693.