Assist Finance was founded in 1960 and operated for more than 50 years as a non-bank lender funded by unsecured investments. Following various regulatory notifications and the effect of proposed regulatory changes to the Assist Finance business model, under advice, the company determined to cease fundraising and lending operations on 31 August, 2013 and implement an investor-approved Moratorium with its independent Trustee, Cremorne Capital Limited, on 31 January, 2014.
The Moratorium, permitted the orderly realization of the company's assets and, after costs, to make distributions to unsecured investors. The implementation of the Moratorium also ensured that all monies were independently accounted for.
The operation of the Moratorium was overseen and reviewed, by Assist Finance's independent Trustee and its independent auditors, Ernst & Young.
The Moratorium ended on 31 December, 2016 with Assist Finance's independent Trustee acknowledging that the Moratorium was properly performed and that Assist Finance had fulfilled all of its obligations without exception.