Updated: 4 June 2024

Updated: 4 June 2024

This Current Matter provides updates for people with complaints in relation to Libertas Financial Planning Pty Ltd (In Liquidation) and Theta Asset Management Ltd (In Liquidation).

Update: Libertas seeks to cease AFCA membership

The liquidators of Libertas Financial Planning (Libertas) have given notice to AFCA of their intention to cease membership of AFCA’s external dispute resolution scheme.

This means Libertas will continue to be a member of the AFCA Scheme for a limited time only. We will update this page as more detail becomes available.

AFCA can only accept complaints about firms that are current members of the AFCA scheme. Once an AFCA membership ceases, AFCA cannot accept any new complaints against that former member. However, AFCA can finalise complaints that were received before the membership ceased.

Libertas in liquidation

Libertas Financial Planning entered liquidation on 26 May 2023. This means an external party is now managing the company. For any enquiries about the liquidation, please contact:

Tim Mehmet
O'Brien Palmer
Level 9, 66 Clarence Street

Contact number: 02 9232 3322
Facsimile: 02 9232 3388
Email: tmehmet@obp.com.au

Theta Asset Management Ltd in liquidation

Theta ceased to be a member of the AFCA external dispute resolution scheme on 9 March 2021. Therefore, AFCA can no longer register complaints against Theta. For any enquiries about the liquidation, please contact:

Cheryl Huynh
Worrells Solvency & Forensic Accountants
GPO Box 4956

Contact number: 02 9249 1220
Facsimile: 02 9249 1211
Email: cheryl.huynh@worrells.net.au

Compensation Scheme of Last Resort (CSLR)

The Compensation Scheme of Last Resort began accepting applications from eligible consumers on 2 April 2024. The CSLR is designed to protect eligible consumers who have an AFCA determination in their favour but the financial firm cannot pay.

A separate and independent company manages the compensation scheme. You can read more about the CSLR on its website.

Lodging a complaint with AFCA

Consumers who have a complaint about a financial firm that is a current AFCA member can lodge a complaint against that firm with AFCA by going to afca.org.au or calling 1800 931 678.

Other help

The National Debt Helpline offers free, independent and confidential assistance for people in financial hardship. You can visit their website or call them on 1800 007 007.

If you are feeling distressed

  • Visit Beyond Blue’s website or contact them on 1300 22 4636
  • Lifeline is available via this website or on 13 11 14 
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