Federal Court has discharged the freezing orders made on 30 May in respect to Unique International College following a slew of undertakings by the Unique International College and its associates.
The court had passed a freezing order following a transfer of $30 million by Surinder Kaur to a bank account in India. Surinder Kaur lives with the Khelas.
She has given an undertaking to “immediately take all necessary steps to cause the amount of $30,000,00 to be returned to Australia.”
Source: UIC
The court has also been assured that within 24 hour of return of the money to Australia, it will be kept in the solicitors’ trust and will only be accessed to make necessary payments to “satisfy any liability to the commissioner of taxation” in relation to the receipt of those funds.
Others associated with the Unique International College Pty Ltd have assured the court that they will not try to transfer any of their assets outside Australia.
Each of them will be able to access their accounts for up to $10,000 per week towards their ordinary living expense. They are also free to pay their legal expenses and other bona fide business expenses.
The associates have also assured the Court to provide account statements for bank accounts held in each of their personal names for the period 1 September 2015 to 31 May 2016 by 10 June 2016 and for the month ending 30 June 2016 as soon as reasonably practicable on or after 1 July 2016.
ACCC is pursuing the college for $57 million in federal funding after its investigation found Unique enrolled students by enticing them with free laptops.
The college allegedly targeted some of the most vulnerable groups in the Australian community, including consumers from remote areas and from low socio-economic backgrounds.
According to ACCC, only 2.4 percent of the consumers who signed up to and commenced Unique’s courses between 1 July 2014 and 30 December 2014 completed their course.
