Voluntary administrators have been appointed to funeral insurer Youpla Group Pty Ltd while a number of related businesses are in liquidation, Australian Securities and Investments Commission (ASIC) notices show.

Administrators David Michael Stimpson and Terrence John Rose from SV Partners were appointed on Friday to Youpla Group.

Mr Stimpson has also been appointed liquidator for the Aboriginal Community Benefit Fund Pty Ltd, Youpla Pty Ltd, ACBF Funeral Plans Pty Ltd, Youpla Administration Pty Ltd and Community Funeral Plans Pty Ltd.

SV Partners say Youpla Group/ACBF Group have provided funeral related expense benefits Australia wide to approximately 10,000 members.

“The liquidator will endeavour to contact all members as soon as possible with details of how the liquidator intends to deal with the funds and members’ claims,” it says on its Facebook page.

Initial reports to members and creditors will be issued by Friday, March 25 and a meeting will be held by the liquidators “as soon as practically possible”, at a date yet to be determined.

“The liquidator will conduct an investigation into the affairs of the Youpla Group/ACBF Group and will be reporting to creditors on the outcome of those investigations,” SV Partners says.

ASIC said on Friday it had written to the directors of Youpla Group, formerly known as ACBF Group Holdings Pty Ltd, to ask them to take immediate and public action to address concerns about the financial viability of ACBF 1, ACBF Plan and ACBF Community.

The action follows the entry into liquidation of another of the group’s entities, the Aboriginal Community Benefit Fund No 2 Pty Ltd (ACBF 2) on March 2. The funeral policies of members of ACBF 2 have now ceased.

“ASIC appreciates that the ongoing uncertainty about the future of the Youpla Group is causing distress for the Aboriginal and Torres Strait Islander peoples and communities affected,” it said.