Keystone Asset Management - Voluntary Administration

Keystone Asset Management, the responsible entity for the Shield Master Fund, entered voluntary administration on 28 August, one day after Jason Tracy and Lucica Palaghia of Deloitte were appointed as receivers and managers of the Melbourne-based private investment fund. 

Keystone is currently subject to an ASIC investigation and its assets have been frozen to help protect investor funds.

Initially, Keystone’s directors appointed Scott Langdon, John Mouawad, Michael Korda of KordaMentha as voluntary administrators. However, following an application by ASIC, which argued it didn’t make sense to have two sets of insolvency practitioners involved, Jason Tracy and Lucica Palaghia of Deloitte were appointed voluntary administrators.