We stand by Mayfair

Australia’s corporate regulator is currently undergoing a challenging period as it comes to grips with its mis-assessment of private equity business Mayfair 101. The group was originally founded by James Mawhinney in 2009.

Kismet Group and our founder James Mawhinney are committed to actively pursuing the objective of making the impacted financiers whole through legal processes, compensation claims, existing assets and new initiatives undertaken by Kismet Group.

A percentage of revenues from Kismet’s various initiatives will be dedicated to Mayfair’s financiers as they are the innocent victims of a most unfortunate and avoidable situation.


Driven by competitive forces Australia's corporate regulator acted against Mayfair to take it out of the market following a series of false claims made by conflicted unrelated parties. Unfortunately, those claims were never put to Mayfair or James to answer, and instead formed the basis of a misplaced campaign.

At the time the regulator acted Mayfair had nearly 600 financiers who had subscribed for over $200 million worth of debt instruments. Every client was paid up to date, Mayfair held substantial assets and there were no complaints.

Recent information obtained under Freedom of Information and in mainstream media has identified that a senior commissioner bypassed normal protocols to cause ASIC to act against Mayfair following speculative musings from a Mayfair competitor (a short seller) whom she had a 20+ year relationship with.

Less than a year prior, Mayfair 101 commenced a $1.6 billion redevelopment of Dunk Island and Mission Beach in Far North Queensland, only to have the project de-railed by the regulator. This cost the region over 10,000 jobs that were set to be created by Mayfair’s investment activities.

James spent the following 3+ years defending Mayfair and his financiers from being harmed by the mis-placed regulatory campaign.

Three years later it was found by unanimous decision of three judges that the regulator ran an unlawful, ‘mistaken’ and ‘absurd’ case against Mr Mawhinney. Various liquidators were also forced to concede assets.

Mayfair 101 is as a modern day example of the impact of misinformation.


There is presently an Australian Senate Inquiry into the regulator’s handling of enforcement and investigation. It is expected to conclude in 2024. Mayfair 101 is the largest case study of the inquiry. James is an active participant.