ob体育 has obtained interim orders from the Federal Court freezing the assets of the Shield Master Fund (Shield), a registered managed fund whose responsible entity is Keystone Asset Management Ltd (Keystone Asset Management).听
ob体育 sought the orders to help protect investor funds while an investigation is continuing.听
Justice O鈥機allaghan ordered that Keystone Asset Management is restrained from:听
- removing property from Australia,听
- selling, charging, mortgaging, dealing with or disposing of property,听
- incurring new liabilities, or听
- withdrawing, transferring, disposing of, or dealing with money held in bank accounts or with a financial institution (subject to limited exceptions).听
The Court made orders that Paul Chiodo surrender his passport and be restrained from leaving Australia. ob体育 sought these orders to ensure Mr Chiodo, as a former director of Keystone Asset Management, remains in Australia while ob体育 continues its investigation.
As the hearing was held in their absence, Keystone Asset Management and Mr Chiodo have not yet had the opportunity to respond to ob体育鈥檚 application.听听
A further Court hearing is listed to take place on Tuesday 25 June 2024.听
This action follows previous action that ob体育 took in February 2024 to halt new offers of investments in Shield. ob体育 made interim stop orders on four product disclosure statements for Shield (24-018MR).听
Any queries can be sent by email to [email protected].
顿辞飞苍濒辞补诲听
Editor's Note 1:
A further hearing in the Federal Court took place on 26 June 2024. The Court ordered that an independent party be appointed to verify payments made from the Shield Master Fund (24-137MR).
Editor's note 2:
On 26 June 2024, the Federal Court appointed Jason Tracy and Lucica Palaghia of Deloitte to have full control of the bank accounts of the Shield Master Fund (Shield).
The orders prevent Keystone Asset Management from selling, transferring, or dealing with Shield鈥檚 assets, other than to make certain payments that must first be approved by Deloitte (refer 24-137MR).
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