Judicial oversight will be retained as investors duped by Ponzi scheme creator Melissa Caddick try to recover some money.

The Federal Court on Monday declared the mother-of-one, who vanished on November 12 last year, had provided unlicensed financial advice between 2012 and 2020 and ordered her company Maliver be wound up.

Liquidators who had been acting on a provisional basis were also made permanent.

However, the liquidators will still require court approval before taking possession of Ms Caddick and Maliver’s property, realising assets and distributing the proceeds of those sales.

That was due to the unusual circumstances of the case, including Ms Caddick’s vanishing, complexities arising from potential claims by non-investors over Ms Caddick’s property and the potential for different classes of investors making different claims, Justice Brigitte Markovic said.

Ms Caddick is likely deceased after the remains of her foot washed up on a NSW beach in February, having disappeared the day after the corporate regulator raided her Dover Heights home in Sydney’s eastern suburbs.

From October 2012, she collected more than $30 million from 72 so-called investors, most of whom were family and friends and all of whom expected their funds would be invested on their behalf.

“Instead, (the funds) were used to meet Ms Caddick’s personal expenses and purchase assets in her name,” Justice Markovic said on Monday.

Based on the liquidators’ report, the court found investors were owed $23,554,921.

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