The High Court in Christchurch has granted the Financial Markets Authority’s (FMA) application for Grant Graham and Neale Jackson of KordaMentha to be appointed as receivers and managers of forex firm Arena Capital Limited, trading as Blackfort FX (Arena/Blackfort).
The decision follows the asset preservation orders that were obtained by the FMA earlier this month.
Graham and Jackson have stepped in to manage the business and to identify the assets held, the names of clients and the value of any investments held in Arena/Blackfort.
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 June 18.
The receivers will shortly be writing to known investors.
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