ASIC confirms Ascent Investment and Coaching ordered to be wound up
The Australian Securities and Investments Commission (ASIC) today confirmed that the Federal Court has ordered that Ascent Investment and Coaching Pty Ltd be wound up on just and equitable grounds, together with the managed investment scheme operated by Ascent.
The orders follow freezing orders obtained by ASIC against Ascent and its director, Michael Dunjey, in December 2021 and ASIC’s application to wind up Ascent in March 2022.
Matthew Donnelly and Sean Holmes of Deloitte Financial Advisory Pty Ltd were appointed as liquidators to Ascent and the managed investment scheme. Mr Donnelly and Mr Holmes were also appointed receivers over the Ascent Trust.
ASIC’s investigation into Ascent is continuing. The regulator investigates concerns that funds may have been raised through misrepresentations made to investors. The regulator is also concerned that investor funds may have been improperly dealt with.