On 4 September 2025, following an application made by ASIC, the Federal Court has ordered that Matthew Charles Hudson and Terry van der Velde of SV Partners be appointed receivers to the property of SRI Fiduciaries 2 Pty Ltd and SRI Fiduciaries 3 Pty Ltd—related entities of Australian Fiduciaries Limited (Australian Fiduciaries)—and made orders freezing their assets.
These orders follow the Court’s appointment on 2 September 2025 of the same receivers and the making of similar freezing orders to six other related entities.
The receivers are ordered to, among other things, conduct investigations into how those funds were used and provide a report to the Court within 45 days.
ASIC took this action due to concerns about the recoverability of funds that had been invested into the related entities.
The appointments means that Australian Fiduciaries and 30 related entities are now either in liquidation, subject to Court orders or undertakings to preserve assets, or have Court appointed receivers.
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- Orders of 11 September 2025
- Orders of 11 September 2025
- Orders of 11 September 2025
- Orders of 4 September 2025
- Written judgement
Background
On 13 June 2025, ASIC applied to the Federal Court, seeking asset preservation orders and the appointment of receivers to Australian Fiduciaries and numerous related entities.
ASIC understands that around 600 Australian retail investors have invested approximately $160 million into managed investment schemes offered by Australian Fiduciaries since February 2020, predominantly through self-managed super funds (SMSFs). Australian Fiduciaries ceased distributing units in the schemes in September 2023.
ASIC’s application sought to preserve the assets of the scheme and obtain a clearer picture of the financial position of Australian Fiduciaries and its schemes while ASIC continues its investigation.
ASIC is investigating concerns around:
- inadequate management of conflicts of interest
- the ways investors were sold units in the schemes and how their funds were ultimately invested into a complex group of entities controlled by related parties
- suspected failure by Australian Fiduciaries to conduct regular valuations of its schemes, and
- loss of value in the underlying assets.
Investors can find further information and a full list of the entities ASIC is seeking orders against on the Australian Fiduciaries webpage on ASIC’s website.
Editor’s note 1:
The original orders made on 2 September 2025 were vacated and updated with new orders dated 11 September 2025.
Editor’s note 2:
On 17 October 2025 Justice Downes made orders by consent for Matthew Hudson and Terry van der Velde in their capacity as Court appointed receivers to provide a single report to the Court in respect of the eighth, tenth, eleventh, twenty-first, twenty-third, twenty-fourth, twenty-fifth, and twenty-sixth defendants by 7 November 2025.
Editor's note 3:
On 6 November 2025 Justice Downes made orders by consent to vary the date by which the Court appointed receivers are to provide their report to the Court to 14 November 2025.