SPECIAL REPORT: A diverse group of successful wealth management businesses in Perth have good stories to tell in a market likely to face increasing uncertainty.
A critical ruling by the corporate regulator has forced Quintis investors to adjourn a meeting that was called to appoint a new responsible entity for their 2002 sandalwood project.
Quintis investors hoping to appoint a new ‘responsible entity' to have oversight of their sandalwood project will need to change plans after the corporate regulator said their two preferred entities were not eligible to take the role.
Three partners of McGrathNicol have formally taken control of sandalwood producer Quintis and its Australian subsidiaries after being appointed as receivers and managers today.
Fremantle-based Primary Securities and Sydney-based Huntley Group are positioning themselves to take over as the responsible entity for Quintis forestry schemes, as investors continue to question the motives of the company's board and its major noteholder.
Dogged legal action led by Fremantle-based Primary Securities has given investors in a failed Willmott Forests scheme the prospect of getting a return on their money.
Perth based entities Primary Securities and GCM Advisory have launched Australia's first Aboriginal investment fund, with an aim to provide 15 per cent returns and promote the growth of Aboriginal and Torres Strait Islander businesses.
