|27 July 2015||
Arena Capital Limited was placed into liquidation in the Christchurch High Court on 24 July 2015. Korda Mentha (the current receivers of Arena) have been appointed as liquidators. The receivers’ update to the Companies Office can be found here and the amended update on the KordaMentha website noting the liquidation of Arena can be found here.
|17 July 2015||
The receivers and managers of Arena Capital Limited have provided a further update to investors which can be found on the KordaMentha website here.
|11 June 2015||
The Receivers and Managers of Arena Capital Limited (Arena) Grant Graham and Neale Jackson of KordaMentha, who were appointed by the Court on application by the FMA under s522 of the Financial Markets Conduct Act 2013 to preserve assets have provided an interim update to investors and the Court about the steps they have taken to date and the current status of their work.
Their preliminary findings include:
The investigation by the FMA and the Serious Fraud Office is ongoing.
Investors in Arena are encouraged to register with KordaMentha and provide their contact details and evidence of their investment. Investors can contact KordaMentha on (09) 307 7865 or BlackFortFX@kordamentha.com. This includes any investors that may have already contacted the FMA. A copy of the letter to investors is available on the KordaMentha website.
|28 May 2015||
We are undertaking an investigation into Arena Capital Limited (Arena), trading as BlackfortFX (Blackfort). On 15 May, we obtained asset preservation orders over the assets of Arena/Blackfort. On 27 May, the High Court in Christchurch granted the FMA’s application for Grant Graham and Neale Jackson of KordaMentha to be appointed as receivers and managers of Arena/Blackfort. They will be responsible for managing the business and identifying assets.
Any investor in Arena/Blackfort is encouraged to register with KordaMentha and provide their contact details and evidence of their investment. Investors can contact KordaMentha on (09) 307 7865 or BlackFortFX@kordamentha.com. This includes any investors that may have already contacted the FMA.
|21 May 2015||
FMA secures Asset Preservation Orders over Arena Capital Limited / Blackfort
The FMA confirms that it is undertaking an investigation into Arena Capital Limited (Arena), trading as BlackfortFX (Blackfort). The FMA has obtained asset preservation orders over the assets of Arena/Blackfort and associated persons, in light of concerns that investor funds may be at risk.
Arena is registered on the FSPR and purports to offer FX services to clients. The FMA is concerned that Arena may be operating in breach of financial markets legislation. We cannot comment further at this stage to protect the integrity of the investigation. The FMA is working with the SFO and we will provide further information as soon as we are able.
Any investor with information about Arena/Blackfort is encouraged to go to the FMA’s website where investors can use the online complaint form to provide information, or call the FMA helpline: 0800 434 567.
|11 December 2015||
The following companies were placed into liquidation at the Auckland High Court:
PricewaterhouseCoopers (PwC), the receivers of the four companies, have been appointed as liquidators. Information from the receivers regarding these companies is available here (http://www.pwc.co.nz/ptt/). An amended update on PwC’s website noting the liquidations should be made shortly.
|20 November 2015||
FMA investigators are currently trying to make contact with investors in New Zealand and Australia who have invested with Mr Steven Robertson, through any of the following businesses:
The FMA has sent out questionnaires to known investors either by post or email in the last week. The purpose of the questionnaire is to help us to understand individual investor’s circumstances and experiences in dealing with these entities.
Investors who have not received a copy of the questionnaire should contact the FMA on 0800 434 567 or by email to email@example.com.
|8 October 2015||
PwC released its report to the High Court. A copy of this can be found here on PwC's website.The FMA’s investigation is on-going.
|4 September 2015||A hearing was held to determine whether certain of the asset preservation orders granted on 13 August 2015 should be varied, modified or removed. The Court approved certain variations, including increasing the weekly living allowance and authorising the release of certain personal and household assets and funds in payment of legal fees.|
|3 September 2015||PwC submitted their report to the High Court on a confidential basis.|
|13 August 2015||
The FMA confirms that it is undertaking an investigation into Steven Robertson, PTT Limited and related entities.
The FMA has obtained asset preservation orders over the assets of PTT Limited and associated persons, in light of concerns that investor funds may be at risk and that the companies may be operating in breach of financial markets legislation.
The High Court also appointed John Fisk and David Bridgman of PricewaterhouseCoopers as Receivers and Receivers and Managers, on a limited basis, of the following entities and persons
Mr Fisk and Mr Bridgman have been granted powers to identify and preserve any funds and assets of PTT Limited (in receivership) and the names of clients. The receivers will provide a report updating the Court and the FMA on the steps they have taken and the current status of their work, by 3 September 2015. The receivers will contact any known clients.
The FMA encourages any client of PTT Limited to register with PwC and provide their contact details (phone, email and postal address) and evidence of any funds paid to PTT Limited.
Clients can contact PwC on the PTT Limited dedicated telephone message line +64 (09) 355 8023, via its dedicated page on the PwC website, facsimile +64 (09) 355 8013, or by mail PTT Limited (in receivership), c/- PwC, Private Bag 92162, Auckland.The FMA also requests that any clients that have already contacted the FMA should also contact PwC.