Marbanc Reviews 3

I have not received funds owed to me by Marbanc and have received no response despite multiple attempts to make contact. Communication has gone completely silent with no update, explanation, or resolution provided. This level of service and lack of responsiveness is unacceptable, and I would not recommend dealing with them under any circumstances. - Elijah

After 2 years of receiving my monthly interest payments as promised, when my last payment, due by 10th did not arrive, I had no response from the company and no explanation. While I rely on monthly income, I now doubt their solvency.

Our company is currently pursuing formal legal proceedings against Income Direct Australia Pty Ltd, a wholly owned subsidiary of Marbanc International Corporation in relation to an unpaid debt of approximately $1.4 million plus accrued interest (in excess of $100,000).

This matter has been raised repeatedly over an extended period with both the company and its directors. Despite multiple opportunities to resolve the matter commercially, payment has not been made.

The documented steps taken to date include:

1) Numerous written payment requests
2) Direct communication with company representatives
3) Formal demand issued
4) Final notice of default issued to the directors
5) Engagement of external legal counsel
6) Filing of a Writ of Summons
7) Attempted personal service at the registered office recorded with ASIC

When our process server attended the registered office in Melbourne as listed on official ASIC records, the premises were found to be vacant at the time of attendance. Photographic evidence was obtained.

Pursuant to section 109X of the Corporations Act 2001 (Cth), service may be effected by leaving documents at a company’s registered office. We are proceeding strictly in accordance with the statutory framework.

Given that Income Direct is wholly owned by Marbanc International Corporation, the matter raises broader corporate governance and oversight considerations within the group structure.

The proceedings are now before the Court. Income Direct has 21 days from valid service to enter an appearance. Failing that, default judgment will be sought.

Litigation of this scale is not undertaken lightly. However, where substantial commercial sums remain unpaid after extended engagement and formal notice, escalation becomes necessary.

This publication reflects the current procedural status of the matter.

Any investor, counterparty, or commercial partner considering engagement should undertake careful and independent due diligence in light of these proceedings.