Union Standard International Group Pty Ltd (In Liquidation)

A.C.N 117 658 349 (“the Company)

 

Peter Krejci and Andrew Cummins were appointed Joint and Several Voluntary Administrators of Union Standard International Group Pty Ltd on 8 July 2020.

On 3 September 2020, upon application by the Administrators, the Federal Court of Australia ordered that the Company be wound up on just and equitable grounds, and that Peter Krejci and Andrew Cummins be appointed as Joint and Several Liquidators.

We note that the Australian Securities and Investments Commission (“ASIC”) has pursued an investigation and legal proceedings against the Company since late 2019. ASIC has since cancelled the Company’s AFSL, and therefore can no longer offer financial services or products to clients.

As such, the Company ceased trading, effective as of the Administrators appointment on 8 July 2020, whereby clients were no longer able to enter into any new trades or positions. Clients could close out their existing positions until 7 August 2020, which timeframe has now ended. Withdrawals are suspended, they are to be dealt with through claims submitted in the Liquidation process.

Please note that the Company’s shareholder, Union Standard Group International Holdings Limited and its ultimate beneficial owner, Mr Soe Hein Minn, have refused to provide the Liquidators access and control of the MT4/5 trading platforms, and are in contempt of orders of the Federal Court of Australia. Those parties, and others acting with them, have intentionally frustrated the Liquidators efforts to administer the orderly winding up of the Company, have failed to deliver up the Company’s assets and records. Regardless, the Liquidators have secured the known assets and their investigations are continuing, in conjunction with regulatory authorities.

This website is owned by the Company and has been taken offline at the request of ASIC.

If you are owed funds from the Company, you may be a creditor of the Company and entitled to claim in the Liquidation. Creditors are requested to complete a Proof of Debt Form (“POD”). To evidence your claim in the liquidation, please attach documentation to the POD such as deposits forms, MT4 account balances, etc. To lodge your claim, please return the completed POD form (with its supporting documentation) by email to usg@brifnsw.com.au.

The POD form can be downloaded here: https://briferrier.com.au/about-us/current-matters/union-standard-international-group-pty-ltd

During the course of the administration of the Company, the liquidators have issued various circulars and reports which provide an update on the progress of the liquidation. These circulars and reports can be downloaded here: https://briferrier.com.au/about-us/current-matters/union-standard-international-group-pty-ltd

Should you wish you get in contact with us or have any questions in relation to the liquidation, please email us at usg@brifnsw.com.au

Peter Krejci and Andrew Cummins

Joint and Several Liquidators