lawyers weekly logo
Advertisement
Markets
14 October 2025 by Olivia Grace-Curran

Oceania misses out as impact dollars drift

Despite strong global momentum in impact investing, allocations to Oceania from global investors are retreating – down 21 per cent over six years, ...
icon

Fortitude launches evergreen small-cap private equity fund

Private markets manager Fortitude Investment Partners has launched a small-cap private equity fund in evergreen ...

icon

BlackRock deems US dollar drop ‘not that unusual’

Despite concerns about the greenback’s safe haven status and a recent pullback from US assets, the asset manager has ...

icon

Australia spared in Binance pegged asset glitch

Binance has confirmed no users in Australia were impacted by technical glitches on pegged assets following the broader ...

icon

Ausbil expands active ETF range with 2 new tickers

Ausbil is set to broaden its active ETF offerings through the introduction of two new ETFs concentrating on global ...

icon

Monetary policy ‘still a little restrictive’ as easing effects build

In holding the cash rate steady in September, the RBA has judged that policy remains restrictive even as housing and ...

VIEW ALL

Liquidators to close MIS planning group

  •  
By Stephen Blaxhall
  •  
4 minute read

A Melbourne planning group that promised stellar returns on managed investment schemes (MIS) has been successfully targeted by ASIC.

ASIC has obtained orders to close companies associated with a planning firm and tied to unregistered MIS in Melbourne.

The Federal Court of Australia issued the liquidation orders on HLP Financial Planning, Beachmere View, Leaberl and 10 associated companies.

ASIC alleged at least 55 investors invested $5 million in high yield schemes between April 1 2005 and September 15 2005.

In promotional material HLP Financial Planning was described as a group that 'seeks out and develops worthy investment opportunities for its clients.'

 
 

Investors were promised returns of 5 per cent in the first year of investment, 11 per cent in the second year, 57 per cent in year three and 67 per cent in year four.

In March 2006, investors' investments were converted to loans to Beachmere View and operator of the schemes, director Peter Berlowitz, with investors offered a return of 10 per cent per annum.

The group was unable to repay investors their money.

ASIC brought legal action citing a failure to provide appropriate information and legal protection as laid out in the Corporations Act.

Berlowitz provided an undertaking to the court not to remove any of his assets from any state of Australia or from Australia, or transact any more than $10,000 per month of any of his property or assets per month.

ASIC also succeeded in joining another Berlowitz company, HLP Mortgage, to the proceeding, although its application to wind up that company was adjourned until the liquidator, George Georges of Ferrier Hodgson, files his report.