ASIC succeeds with liquidators appointed to First Guardian Master Fund

In yet another move around First Guardian Master Fund, the Australian Securities and Investments Commission (ASIC) has successfully had the Federal Court appoint liquidators.

ASIC said the Federal Court has appointed Ross Blakeley and Paul Harland of FTI Consulting as liquidators of Falcon Capital and ordered the Liquidators to wind up Falcon, the First Guardian Master Trust and related unregistered subsidiary funds.

ASIC said it had made an application for the appointment of liqudiators because it was concerned about Falcon’s management and operation of First Guardian and the associated risks to investors.

The Federal Court also ordered that Paul Allen of PKF Melbourne be appointed as receiver to the property of David Anderson, a director of Falcon.

This action follows previous action taken by ASIC in February 2025 to freeze the assets of Falcon, First Guardian and Mr Anderson to help protect investor funds while ASIC continues its investigation.