This site provides information about ASIC investigations, court proceedings and settlements relating to Storm Financial Limited (Receivers and Managers Appointed) (In Liquidation).
One of the key parts of ASIC's investigations is to consider recovery of compensation for Storm investors who suffered financial loss.
- 27 March 2020
The Full Federal Court has confirmed that the directors of Storm Financial, Emmanuel and Julie Cassimatis, breached their duties as directors. These proceedings were an appeal by the Cassimatises against the original judgment handed down in August 2016. ASIC sought to dismiss the appeal with costs. In its 150-page judgment, the full Federal Court, by a majority of two to one, dismissed the appeal.