The Federal Court of Australia in Melbourne has ordered that Audrn Group Pty Ltd (Audrn) and Optima Lending Solutions Pty Ltd (Optima) be wound up. The Court ordered that Michael Hill and Anthony Connelly of McGrathNicol be appointed as joint and several liquidators of both Audrn and Optima.

On 20 February 2020, ASIC applied to have Audrn wound up and on 6 March 2020, ASIC applied to have Optima wound up.

ASIC commenced the proceedings to protect the public in circumstances where it holds concerns about the conduct of the affairs of these companies and their solvency.

ASIC’s investigations into both companies are ongoing.