- A mining company has fallen into the hands of administrators
- Chris and Rebecca Judd invested in the company.
- They could lose almost $500,000
Football great Chris Judd and his wife Rebecca have seen an investment worth almost $500,000 collapse, dealing a blow to the power couple.
According Western AustraliaFormer Eagles and Carlton star Judd, along with his wife, were among several large shareholders in Elmore Limited, a mining company based in Belmont.
However, the iron ore miner fell into the hands of KPMG administrators.
The KPMG trio, Martin Jones, Matthew Woods and Clint Joseph, will begin discussing Elmore’s fate during the first meeting of creditors on Friday.
The mining company’s shares were delisted last September because the company struggled to keep its Peko iron ore and gold business in the Northern Territory operating.
Chris and Rebecca Judd could lose an investment worth almost $500,000
The powerful couple invested in a mining company that collapsed
Elmore revealed in December that the Judds owned 1.35 percent of the company with just over 18.8 million shares.
Shares were trading at 0.5 cents in September, meaning Judds shares are worth about $94,400.
The couple first invested 10 million shares in April 2021, a month after they were sold for 2 cents each, equivalent to $200,000.
They purchased nearly nine million more shares between September 29, 2021 and September 29, 2022.
The West Australian claims the Judds handed over another $266,250 in that additional investment.
The couple runs the risk of not receiving a cent if the administrators choose to liquidate the business.
Elmore had net liabilities exceeding $13.1 million at the start of fiscal 2024, with just $50,000 in the bank at the end of October. Creditors will receive the spoils rescued from liquidation before shareholders.
Former football star Judd has risen to prominence in the financial industry after retiring
Football hero Judd has forged an impressive career in the financial sector after retiring from the AFL in 2015.
He hosts a podcast analyzing the investment industry and also oversees the Cerutty Macro Fund, a boutique fund he founded.
The Judds live in a luxurious Spanish-style mansion in Brighton, a Melbourne suburb. The property is believed to be valued at $7.3 million.
Daily Mail Australia has contacted the Judds for comment.