Shield liquidators deny existence of Chiodo proposal

Alvarez & Marsal, the liquidator and receiver of Keystone Asset Management, has rejected as “inaccurate and misleading” a public claim by Shield Master Fund director Paul Chiodo that he had proposed a deal to return investor capital by Christmas, confirming no such proposal exists and that the receivers instead plan to seek Federal Court approval within weeks to make an interim distribution of over $100 million to Shield Master Fund unitholders.

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