Australian Securities & Investments Commission seeks Federal Court contempt findings against David McWilliams and Laura Fullarton for alleged breaches of ALAMMC freezing orders

The Australian Securities & Investments Commission has applied to the Federal Court for leave to commence contempt proceedings against David McWilliams and Laura Fullarton, alleging the pair breached court freezing orders made in ASIC’s case involving ALAMMC Developments Pty Ltd and related entities. ASIC is seeking declarations that each is guilty of contempt, alleging they moved money out of frozen accounts and, in Mr McWilliams’ case, failed to disclose assets. ASIC alleges Mr McWilliams withdrew or moved at least AUD 297,327 from frozen bank accounts and undisclosed crypto accounts, exceeding the court-imposed living expenses allowance by between AUD 131,566 and AUD 173,026. It also alleges he failed to disclose interests in two racehorses (Within The Law and Ellibaby), a crypto account and other bank accounts, diverted AUD 39,304 in prize money to an undisclosed account belonging to his son after the freezing orders were made, and sold a 5% interest in Within The Law for AUD 35,000. Ms Fullarton is alleged to have withdrawn or moved at least AUD 245,159 from frozen ANZ and other bank accounts, exceeding the allowance by between AUD 54,760 and AUD 113,270; ASIC noted the Federal Court ordered the remaining ALAMMC Group companies to be wound up on just and equitable grounds after concerns raised by court-appointed receivers. The freezing orders were first made on 11 September 2024 and were later extended and varied. ASIC’s application relies on evidence from the receivers and managers, including the Fourteenth Affidavit of Andrew Peter Fielding filed on 4 September 2025.