By Gerelyn Terzo, Global AgInvesting Media

IN PROGRESS – ADM Capital, a Hong Kong-based investment manager focused on extending private credit to the Asia Pacific region, has scored a legal victory. The investment firm has reportedly been awarded an A$36 million settlement amid a court battle with Sam Mitchell, at the helm of New South Wales-based farm management company WealthCheck, for alleged defaulted loans tied to local cattle stations.

The decision came down from the NSW Supreme Court and is the latest in a string of rulings that have sided with lenders, adding to Mitchell’s woes. Mitchell’s WealthCheck, which according to The Australian has completed A$500 million in ag deals, in June/July was placed into receivership in a process overseen by SV Partners, reportedly owing to a series of alleged defaulted loans and tax debts.

According to reports, WealthCheck’s Northern Territory

LAWD real estate’s Danny Thomas is also linked to the scandal for his association with a couple of the affected cattle ranches – Mitchell River Hold Co and Weelaranna.

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