A former director of AMI and NRM, Mr Jacov Vaisman, was declared bankrupt yesterday with the Federal Court granting the ACCCs application for a sequestration order.
The Courts order follows Mr Vaismans failure to pay the ACCCs costs amounting to $3,679,359.00 in proceedings brought by the ACCC against AMI and then NRM. The Court also ordered the ACCCs costs be taxed and paid from Mr Vaismans estate.
The ACCC brought proceedings against Advanced Medical Institute (AMI), its subsequent owner, NRM, and Mr Vaisman for taking advantage of vulnerable consumers suffering from sexual dysfunction. In April 2015, the Federal Court found that AMI and NRM engaged in unconscionable co…
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