update this article to reflect recent events or newly available information . november 2009 octaviar limited type public asx ocv industry finance founded 1999 headquarters southport queensland australia key people andrew peacock chairman website http www.mfsgroup.com.au octaviar limited formerly mfs limited is an australian diversified investment company in the funds management and financial services sectors . the company once valued at 2.4 billion was forced to sell its main asset the stella group in february 2008 and in march 2008 the value of the company had fallen to just 480 million . 1 as of august 1 2009 the company is in liquidation . the company was delisted from the australian stock exchange on 31 august 2009 after failing to pay listing fees . 2 contents 1 history 2 assets 3 references 4 external links history edit 1999 mclaughlins financial services limited founded by michael king receives asic afsl 227010 june 2000 acquires noosa junction shopping centre november 2000 launches mfs premium income fund july 2001 acquires mfs leveraged investment and securities trust 2002 mfs subsidiary mclaughlins financial services limited acquires over a 250 million of real estate assets 2003 mfs subsidiary mclaughlins financial services limited acquires property at queen street melbourne and retail premises of louis vuitton at the intersection of collins and russell streets . march 2004 mfs subsidiary mclaughlins financial services limited acquires a number of homemaker centres in queensland and new south wales . may 2004 acquires the aae group of companies which owns and operates the victorian ski field businesses at mount hotham and falls creek september 2004 acquired approximately 18.5 % of the asx listed breakfree limited . october 2004 mfs premium income fund was sized at approximately 440 million january 2005 re lists a restructured mfs group on the australian stock exchange asx and announces merger with breakfree limited . february 2005 reaches 50.1 % interest in breakfree limited march 2005 acquire luxury accommodation group peppers leisure limited and the sheraton mirage resorts located on the gold coast and port douglas . april 2005 breakfree expands into queenstown may 2005 completed breakfree limited merger june 2005 hfa asset management announces the closure of its hfa octane fund series two which attracted over 90 million in investments . july 2005 mfs wins the 2005 hotel investor of the year award for the sheraton mirage resorts september 2005 mfs subsidiary mclaughlins financial services limited is appointed the responsible entity for the ph sydney hotel trust and the challenger howard property trust . the major asset of the trusts is the park hyatt hotel on sydney harbour . october 2005 mfs launches a golf industry investment fund in conjunction with its title sponsorship of the 2005 mfs australian open . february 2006 the mfs living and leisure trust mpy announced that it has acquired the melbourne based oceanis group the world s largest aquarium owner and operator . january 2008 a proposal to the market is announced whereby mfs financial services and tourism arms are to be split . this proposal is not well received by the market following which the company s share price falls significantly its shares are temporarily suspended from the asx and the ceo resigns . august 2008 the mfs living and leisure trust mpy now called living and leisure australia asx lla was recapitalised and refinanced under a 236m rescue deal put together by charbel nader of pitt capital partners and involving the james packer controlled arctic capital . september 2008 after a proposal to major creditors fails to get acceptance the directors appoint voluntary administrators to the group with the aim of trying to reach an accommodation with the majority of creditors through a deed of company arrangement . august 2009 octaviar limited is placed in liquidation . november 2009 the australian securities and investments commission commences an action against former directors for misappropriating 130 million allegedly sourced from the premium income fund of which mfs investment management limited was the responsible entity . assets edit mfs owns 3 4 mfs funds management group structured finance solutions hfa funds management group mfs manages mfs diversified group now geo property group mfs living & leisure group now living & leisure australia references edit mfs investors stranded natalie craig smh march 28 2008 asx market release retrieved 4 september 2010 asx company info retrieved may 2 2006 company profile retrieved may 2 2006 external links edit retrieved from https en.wikipedia.org w index.php title octaviar & oldid 687110863 categories defunct investment companies of australiacompanies based on the gold coast queensland1999 establishments in australiafinancial services companies established in 1999hidden categories wikipedia articles in need of updating from november 2009all wikipedia articles in need of 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