Skip to main content
Frequently asked questions
  • Who has been appointed?
    John Park and Ginette Muller, of FTI Consulting (Australia) Pty Ltd were appointed as Voluntary Administrators of LM Investment Management Limited on 19 March 2013 pursuant to resolution of the companies' board of directors. On 1 August 2013, at the Second Meeting of Creditors, creditors resolved to place the Company into Liquidation and appoint Ginette Muller and John Park as Liquidators.


  • What is a Voluntary Administration?
    Voluntary Administration is an insolvency procedure where the directors of a financially troubled company or a secured creditor with a security interest over most of the company's assets appoint an external administrator called a 'Voluntary Administrator'. The appointment of a Voluntary Administrator allows an independent fully qualified individual to take control of the Company and to administer the affairs of the Company in a way that maximises the chances of its business continuing in existence, or if it cannot continue, results in a better return to creditors than they would result from an immediate winding up of the Company. The role of the Voluntary Administrator is to investigate the company's affairs, to report to creditors and to recommend to creditors whether the company should enter into a deed of company arrangement, go into liquidation or control to be returned to the directors.


  • Have Receivers been appointed to LMIM?
    No. Receivers and Managers have however been appointed over the assets of the First Mortgage Income Fund by Deustche Bank AG, the secured creditor and through recent court proceedings.


  • Have all the LM staff gone? Who can I talk to and who is managing the Fund?
    The LM offices were closed on 23 December 2014. Each fund tab has been updated with the relevant contact for registry and other enquiries.


  • Will Investors continue to receive their regular interest payments?
    Throughout the course of the Liquidation interest payments will not be made but rather rolled back into the unit price to ensure a better return of capital to investors.


  • When will Investors receive a return?
    The timing of return is dependent on the fund in which you are invested. Investors will receive updates via their preferred contact method as the wind up of each fund progresses. For recent fund updates, please refer to the fund tabs on this website. Investors are urged to update their details to make email their primary contact in order to reduce the costs of mail outs going forward.


  • Are the funds in liquidation or administration?
    No. LM Investment Management Ltd, the responsible entity of the Funds, is in Liquidation, not the Funds. The Funds are legally segregated and separate entities form each other and from the responsible entity. The Funds have been closed to new investors.


  • Will the Liquidators immediately sell Fund assets and wind down?
    The Liquidators have to date issued 601NC notices with proposals to wind up the Currency Protected Australian Income Fund, Institutional Currency Protected Australian Income Fund, Australian Income Fund and Cash Performance Fund. As a result of the court proceedings it was ordered that the First Mortgage Income Fund too be wound up. Inevitably, the role of the Liquidators will be to see the wind up of all funds in accordance with their constitutions.


  • Can we lodge redemption requests in the LM Funds?
    Currently, no redemptions are being paid from the Funds.


  • For Advisers - What happens with outstanding commissions?
    A debt owing to an Adviser will be a debt owed by the specific fund in the first instance. Please note that Adviser does not mean individual Advisers, however, means the Adviser firm that has a direct agreement with LM Investment Management Limited. The Liquidators understand that Advisers may also have a legal entitlement to claim against LM Investment Management Limited as the Trustee/responsible entity of the fund whilst these monies remain outstanding to you. Accordingly, you do have an entitlement to lodge a proof of debt against LMIM.


  • What is happening to the current board of directors?
    The directors powers are suspended during the course of the Liquidation. The directors must assist the Liquidators in locating assets, delivering books and records, assisting with enquiries and providing a written report on the Company's business, property and financial affairs. The directors must not obstruct the Liquidators in carrying out their duties.


  • How do I get further information?
    In the first instance, investors should consult the tab on this website relevant to the fund they are invested in. Should you require further information, please submit an enquiry via the Contact page of this website.


  • What is the status of LM's Australian Financial Services Licence?
    LM holds Australian Financial Services Licence No 220281 which entitles it to manage and operate the fund for specific purposes. On 9 April 2013, the Australian Securities & Investments Commission temporarily suspended LM's AFSL for a period of 2 years. However ASIC allowed LM's AFSL to continue in effect as though the suspension had not happened for all relevant provisions of the Corporations Act 2001 (Cth) so as to permit LM, under the control of FTI as Administrators, to remain as the responsible entity of all LM's registered managed investment schemes for certain purposes, which include investigating and preserving the assets and affairs of, or winding up, LM's registered managed investment schemes. ASIC's decision to suspend the AFSL but allow LM and FTI to continue in this way, ensures that FTI as administrators may perform their statutory and other duties.


  • How do I obtain my Annual Taxation Statement?
    Annual Taxation Statements cannot be issued until an audit of the Funds are complete. Investors who wish to lodge their taxation returns are asked to review the site page of the fund they are invested in to obtain appropriate contact details for where to send their request.


Updating Your Details

Should you wish to update your details, please complete the relevant sections(s) of the Change of Investor Details Form

Once completed, please review the relevant fund tab of this website to determine whether the form should be sent to Armstrong Registry Services or FTI.

Information for Hardship Applications

ASIC Information Sheet

ASIC Hardship Criteria

Statutory Declaration Form

Contact Us

GPO Box 3127

Brisbane, Qld, 4001

Email:enquiries@lminvestmentadministration.com

Website Builder | Create a website Australia