- A mining company has fallen into the hands of administrators
- Chris and Rebecca Judd invested in the company
- They could lose almost $500,000
The fabulous Chris Judd and his wife Rebecca have seen an investment worth reportedly almost $500,000 collapse in a major blow to the power couple.
According to The Western Australiaformer Eagles and Carlton star Judd – along with his wife – were among a number of major shareholders in Elmore Limited, a Belmont-based mining company.
However, the iron ore miner has fallen into the hands of KPMG administrators.
KPMG trio Martin Jones, Matthew Woods and Clint Joseph will discuss Elmore’s fate at the first meeting of creditors on Friday.
Shares in the mining company were halted last September as the company encountered problems running their Peko iron ore and gold operations in the Northern Territory.
Chris and Rebecca Judd could lose an investment worth nearly $500,000
The power couple invested in a mining company that went bankrupt
Elmore revealed in December that the Judds owned 1.35 percent of the company with just over 18.8 million shares.
The shares traded at 0.5 cents in September, meaning the Judds’ shares are worth about $94,400.
The pair first invested 10 million shares in April 2021, a month after they were sold for 2 cents each, which equates to $200,000.
They bought almost nine million more shares between September 29, 2021 and September 29, 2022.
The West Australian claims the Judds handed over a further $266,250 in that additional investment.
The couple risks not receiving a cent if administrators decide to liquidate the company.
Elmore had net debt of more than $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 loot saved from the liquidation before shareholders.
Former footy star Judd has excelled in the finance sector after retiring
Footy hero Judd has built an impressive career in the finance industry after retiring from the AFL in 2015.
He hosts a podcast discussing the investment industry, while also overseeing the Cerutty Macro Fund, a boutique fund he founded.
The Judds live in a luxurious Spanish-style mansion in Brighton, a suburb of Melbourne. The property is valued at $7.3 million.
Daily Mail Australia has contacted the Judds for comment.