This article is from the Australian Property Journal archive
THE corporate regulator, Australian Securities and Investments Commission, has concluded its investigation into developer Sunland, after a referral from the Supreme Court of Victoria.
After its probe, ASIC has decided not to take any action.
ASIC received the referral from Justice Croft in 2012 after Sunland lost its $14 million case in the Supreme Court against Angus Reed, his company Prudentia and Matthew Joyce over the alleged Dubai fraud scandal.
In reaching his decision, His Honour referred his views to ASIC, concerning market disclosures on various aspects of the case.
Sunland yesterday welcomed the decision.
Australian Property Journal
