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Mayfair 101 Group has reached a settlement with Platinum Asset Management over the use of the word platinum in the Mayfair Platinum brand.
This settlement requires Mayfair 101 to cease using its Mayfair Platinum brand name from June 30, 2020.
Platinum Investment Management Limited commenced proceedings in the Federal Court on December 18, 2019, against Mayfair Wealth Partners Pty Ltd for alleged trademark infringement resulting from its trading name Mayfair Platinum.
More than $130 million raised
Mayfair Platinum was launched on June 24, 2019, and has raised more than $130 million from wholesale investors.
A spokesperson for the Mayfair 101 Group said: “We have held the strong view that platinum is a descriptive word and should never have been allowed to be trademarked.
"That said, Platinum Asset Management holds a leading position in the funds management industry in Australia and we are respectful of the work Kerr Neilson and his team have put into developing their brand.”
To become Mayfair 101 clients
The settlement means that Mayfair Platinums investors will become clients of Mayfair 101, the Mayfairplatinum.com.au website will be taken offline and the investor relations team will represent the Mayfair 101 brand moviRead More – Source