Jim's Finance franchisees: We're still in business

Documents obtained by Brokernews reveal that Esteecee Pty Ltd (trading as Jim's Finance Professionals) was placed into liquidation on 23 December 2008.

But Robert Marshall, from Jim's Finance in Craighall, South Australia said he and four other franchisees in Queensland continue to operate under the "Jim's Finance Professionals" banner.

Marshall claimed former CEO Brad Volling's business (Esteecee) was the only one that had collapsed and that the others were operating as normal. It is understood that franchisees now revert back under the control of Jim's Group.

Brokernews attempted to contact Volling for a response, but was unsuccessful in reaching him.

In May last year, Volling told Australian Broker the business would grow to 250 brokers over the next two .

Jim's Finance is part of franchise operator Jims Group and aggregated under AFG.

Mark Hewitt, general manager for sales and operations at AFG, said Esteecee was the master franchisee for Jim's Finance and Volling a director of Esteecee.

"AFG had no financial interest in Jim's Finance other than the normal broker /aggregator relationship. Our relationship with them ended prior to the appointment of the liquidator," he said.

"AFG is very disappointed for the directors of Esteecee Pty Ltd that they have found themselves in this position," he added.

Hamish MacKinnon from Bent & Cougle was appointed liquidator of Esteecee.

Creditors of Esteece are owed more than $611,000, with $583,000 owed to unsecured creditors, which include mortgage brokers (franchisees).