Current as at 13 August 2018
|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.
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