What happened
On 13 July 2026, the Federal Court ordered the winding up of First Mutual Private Equity Pty Ltd and an unregistered managed investment scheme that it operated together with Gregory Raymond Cotton.
ASIC applied for the winding up to protect investors and ensure any remaining funds can be identified and returned.
Liquidators appointed
Robert Woods and Salvatore Algeri of Deloitte SRT Pty Ltd have been appointed as liquidators. They replace the receivers and asset freezing orders that had been in place since ASIC commenced proceedings in August 2025.
The liquidators will take control of the company, identify and recover assets, assess claims, and distribute available funds to creditors and investors.
Ongoing investigation
ASIC's investigation into First Mutual Private Equity Pty Ltd and Gregory Raymond Cotton is ongoing.
Key actions for investors and creditors
- Review the Receivers' Report - it is available on the Federal Court website under 'Other cases of public interest' at www.fedcourt.gov.au. The report sets out how investor funds were received and used.
- Check the ASIC information page for First Mutual Private Equity Pty Ltd at asic.gov.au for updates on the liquidation process and how to register a claim with the liquidators.
- Lodge a creditor or investor claim - contact the liquidators, Robert Woods and Salvatore Algeri at Deloitte SRT Pty Ltd, directly to confirm the claims process. The source does not specify a contact address or deadline for claims.
- Read ASIC media release 25-174MR for background on the original proceedings and asset freezes commenced in August 2025, available at asic.gov.au.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.