Penalty Hearing Gives Mayfair 101 an Opportunity to Respond

The Penalty hearing in which the Australian Securities and Investment Commission is seeking $12 million fines against three defendant entities owned by Mayfair 101, has allowed the investment company an opportunity to be heard.

Managing Director of Mayfair 101 Group, Mr James Mawhinney, said the hearing which ended today 5 October would decide if the Federal Court fines Mayfair 101 entities $12 million – as asked for by ASIC – or nil, as claimed by Mayfair.

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