Wednesday 28 March 2007 LAWFUEL – Australia Law News – The Australian Securities and Investments Commission (ASIC) obtained interim orders by consent in the Supreme Court of New South Wales yesterday against Mr Ian Robert Hodgson of Sydney, New South Wales, and associated companies. These orders follow proceedings commenced by ASIC in the Supreme Court of New South Wales last week after concerns Mr Hodgson was operating an unregistered managed investment scheme.
To date, ASIC’s investigations have revealed that 34 individuals invested funds totalling approximately $10 million in the scheme since 2000. At this stage, Mr Hodgson has not filed any evidence in court or made any admissions as to these matters. On 22 March 2007, His Honour Justice Austin granted ex parte orders preventing Mr Hodgson and associated companies, I R Hodgson and Associates Pty Ltd, I R Hodgson and Associates (Financial Services), Lyrebird Management Services Pty Ltd, and Hereford Management Services Pty Ltd, from dealing with or disposing of the proceeds and property held in, or on behalf of, the scheme. In addition, Mr Hodgson was also ordered not to leave New South Wales or Australia. His Honour Justice Austin has now extended these orders, with the consent of all parties.
The court also ordered that Mr Hodgson not deal with or dispose of any of his assets or those of the parties and deliver to ASIC detailed affidavits on behalf of each of the associated companies setting out assets owned or controlled by the parties. Mr Hodgson was also ordered to deliver his passport and any travel documents to the court. The matter has been adjourned until 25 June 2007, pending ASIC’s further investigation. For further information contact: Allen Turton Deputy Executive Director, Enforcement Telephone: 02 9911 2338 Mobile: 0411 549 236 Emma Forehan ASIC Media Unit Telephone: 03 9280 3354 Mobile: 0409 702