A poster on another forum is advising that Members Alliance/Iridium are in the process of rebranding as http://zenongroup.com.au/

Cross posting from the other Members Alliance thread but I am hearing that the Members Alliance/Iridium Capital house of cards has finally collapsed with ASIC issuing insolvency notices.

• This reply was modified 8 years, 8 months ago by  Romper.

If it helps, here is a list of a lot of the associated companies tied up with this lot taken from the 1st Home website;

1st Home Pty Ltd is proudly part of Iridium Holdings, a diverse and privately owned financial conglomerate, specialising in integrated financial services.

Iridium Holdings was formed with the clear purpose of providing clients with proven strategies and techniques that will ensure a comfortable and financially secure future.

Other 1st Home associated companies within Iridium Holdings include:

Members Alliance
MM Prime Investment
Capricorn Securities
Iridium Financial Planning
Iridium Mergers & Acquisitions
Image Building Group
Silverback Constructions
Members Alliance Home Loans
Provincial Property Investment (PPI)
Members Alliance Property Services
Members Alliance Education Foundation
Syree Enterprises

After my experience with Members Alliance (now also going by the name Iridium Holdings) I would also recommend to stay well away.

Three and a half years after settlement we still have an unfinished house. The building finally reached lockup early 2015 after 2 ½ years before the builder, Image Building Group, had their licence cancelled by the QBCC. Members Alliance then offered another builder, Silverback Constructions, to complete the house but they to had their licence cancelled by the QBCC before undertaking any work. Interestingly enough, both building companies were subsidiaries of Members Alliance with the Directors being the usual players, Domingo, Macvicar etc.

We have now started the costly & time consuming process of terminating contracts and lodging a claim with the QBCC in an effort to get the house completed. Once we have sorted through that we will be lodging a claim for our not inconsiderable damages through the Courts.

Lesson learned the hard way.

Three and a half years after settlement we still have an unfinished house. The building finally reached lockup early 2015 after 2 1/2 years before the builder, Image Building Group, had their licence cancelled by the QBCC. Members Alliance then offered another builder, Silverback Constructions, to complete the house but they to had their licence cancelled by the QBCC before undertaking any work. Interestingly enough, both building companies were subsidiaries of Members Alliance with the Directors being the usual players, Domingo, Macvicar etc.

We have now started the costly & time consuming process of terminating contracts and lodging a claim with the QBCC in an effort to get the house completed. Once we have sorted through that we will be lodging a claim for our not inconsiderable damages through the Courts.

You might want to also consider http://www.goldcoastbulletin.com.au/business/robinaheadquartered-members-alliance-faces-wind-up-over-50000-debt/news-story/59f3dbdc54c907138249fab264a9533f

Lesson learned the hard way.