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Keystone Asset Management Ltd

(Receivers & Managers Appointed) (Administrators Appointed)

ACN 612 443 008

Details

 

Appointment type: Receiver and Manager & Voluntary Administrator

Appointment date: 28 August 2024 & 5 September 2024

Appointees: Jason Tracy and Lucica Palaghia 

On 27 August 2024, as determined by an order of the Federal Court of Australia in proceeding number VID 536 of 2024, pursuant to s 1323(1)(h) of the Corporations Act, Lucica Palaghia and Jason Tracy were appointed as joint and several receivers and managers (Receivers) of the Property of Keystone Asset Management Limited (Keystone) in its capacity as:

  • Responsible Entity for the Shield Master Fund (ARSN 650 112 057)
  • Trustee for the Advantage Diversified Property Fund; and
  • Trustee for the Quantum PE Fund (together, the Funds).

On 5 September 2024, as determined by an order of the Federal Court of Australia in proceeding number VID 536 of 2024, pursuant to s447(a)(1) of the Act and / or s90-15 of the Insolvency Practice Schedule (Corporations) (being Sch 2 to the Act), Scott Langdon, John Mouawad and Michael Korda of KordaMentha were removed as the administrators of the Company and Lucica Palaghia and Jason Tracy were appointed as the joint and several administrators.

Our Receivers’ appointment is not affected by the 5 September Orders.

KordaMentha issued a notice of first meeting of creditors of company under administration on 2 September 2024. A copy of the notice is enclosed. That notice provides details of a first meeting of creditors of the Company being held pursuant to s436E of the Act at 2:00 PM AEST on 9 September 2024. This meeting will go ahead and will now be conducted by Deloitte.

As advised by KordaMentha, the meeting will be held as a virtual meeting only. If you wish to attend the meeting, we require that you complete the proof of debt and proxy form and return those forms to our office by email to shieldinvestors@deloitte.com.au prior to 12:00 PM AEST on 9 September 2024.

Please note that if you have already submitted a proof of debt or proxy form to KordaMentha, you do not need to submit another form to us. KordaMentha has provided us with all proofs or debt and proxy forms that they’ve received.

Prior to the meeting, we will circulate virtual meeting details by email to all creditors who have indicated to us (or prior to today’s date, to KordaMentha) they will be attending. 

Our declaration of relevant relationships and/or declaration of indemnities will be tabled at the First meeting of creditors.

Further background to the Keystone matter, the status of enforcement action and further support and information is available on ASIC’s website at the link following: Shield Master Fund | ASIC

Extension of Convening Period
18 September 2024

Initial Notice to Creditors
06 September 2024

Court Orders
05 September 2024

Court Orders
27 August 2024

Court Orders
26 June 2024

 
General Enquiries

Please direct all future correspondence to shieldinvestors@deloitte.com.au.
 

Media enquiries

Simon Rushton
srushton@deloitte.com.au
Tel: +61 9322 5562