ASIC cautions SMSFs after land banking schemes’ downfall

SMSF investors are being advised caution by the regulator after the Federal Court in Melbourne appointed liquidators to companies operating land banking schemes.

by | 18 Apr, 2016

Following an application by ASIC, the court appointed liquidators to two companies, Bilkurra Investments Pty Ltd and Foscari Holdings Pty Ltd, which have each operated a land banking scheme in Victoria, ASIC said in a statement last week.

Read the full story at SMSF Adviser.

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