Jamie McIntyre gives Federal Court undertaking to stop promoting his land banking project

Jamie McIntyre gives Federal Court undertaking to stop promoting his land banking project
Jamie McIntyre gives Federal Court undertaking to stop promoting his land banking project

ASIC has commenced proceedings in the Federal Court of Australia against companies associated with Jamie McIntyre and the 21st Century Group in relation to their promotion and sale of interests to investors in five land banking schemes.

ASIC alleges that the schemes are unregistered managed investment schemes and that the 21st Century Group companies and Mr McIntyre have been unlawfully carrying on an unlicensed financial services business.

The five schemes are promoted and advertised as:

  • Botanica, located at 805 Archer Rd, Kialla, Victoria 3631
  • Secret Valley Estate, located at  955, Old Sydney Road, Bylands, Victoria 3762
  • Oak Valley Lakes Estate & Resort, located at  124 Booth Road, Brookhill, Townsville, Qld 4816.
  • Bendigo Vineyard Estate & Resort, located at  51 Andrews Road, Bendigo, Victoria 3551
  • Melbourne Grove Estate, located at  1491 Dohertys Road, Mount Cottrell, Victoria 3024

ASIC understands that there are over 100 investors in the schemes, which have been promoted to investors, including through seminars, by entities associated with Mr  McIntyre's 21st Century Group. Companies associated with Mr McIntyre and the 21st Century Group are also the developers of the schemes (development companies). 

On 21 August 2015, the Federal Court of Australia accepted undertakings from each of the defendants, including Jamie McIntyre, that until further order or agreement with ASIC, they would not promote the developments, act in furtherance of the developments, receive, solicit or dispose of any funds in connection with the developments, remove any assets from Australia or charge any assets and dispose of or destroy any books and records in relation to the developments. 

The undertakings allow the defendants to make interest payments in relation to the loan entered into by Bendigo Vineyard Estate Pty Ltd for the Bendigo Vineyard Estate & Resort development.

On 10 August 2015, the Federal Court accepted undertakings from Messrs Jamie and Dennis McIntyre that until 5 November 2015, they would give notice to ASIC of any travel outside of Australia and would deliver their passports to their solicitors. 

The matter has now been set down for hearing on 8 October 2015 at 10:15am.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Asic Landbanking

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