New Zealand’s Financial Markets Authority (FMA) announced today that the High Court in Christchurch granted its application to appoint receivers and managers of Arena Capital Limited, trading as Blackfort FX (Blackfort).
Grant Graham and Neale Jackson of KordaMentha will be responsible for the management of the business and for the identification of the assets held, the names of clients and the value of any investments held in Arena/Blackfort. They will provide a report to the Court and the FMA on the steps they have taken and the current status of their work, by June 18, 2015.
The receivers will soon contact known investors.
The court decision was announced yesterday afternoon. It comes after asset preservation orders over Arena/BlackfortFX were obtained by the FMA. The watchdog back then voiced concerns that the retail FX broker is operating in violation of New Zealand’s laws and that investor funds might be at risk.
The FMA advises any investor in Arena/Blackfort to register with KordaMentha and provide their contact details (phone, email and postal address) and evidence of any investment made. Investors can contact KordaMentha on (09) 307 7865 or [email protected].
To view the official announcement by the FMA, click here.