Macquarie to pay back Aussies $321m after Shield Master Fund collapse
Following the collapse of the Shield Master Fund, Macquarie will pay back to thousands of Australian Australians.
According to the court documents issued by the Australian Australian Menkul Assets and Investments Commission (ASIC) on Thursday, the Great Bank’s Act as 3000 members invested in the unsuccessful fund.
As ASIC, Macquarie, as the trustee of these people’s nest eggs, did not act in a fertile, honest and fair way because he could not put Shield Master Fund on a watch list for higher monitoring.
Macquarie investment management has now traded in the federal court against Limited.
ASIC Vice President Sarah Court is expected to talk to the media on Thursday morning.
Approximately 11,000 people caught the collapse of Shield Master Fund, First Guardian Master Fund and Australian beliefs and disappeared about $ 1.2 billion.
In the case against the Macquarie Investment Management, ASIC does not want a civilized penalty because he agrees to pay back investments in Macquarie and Shield.
Macquarie’s acceptance and payment also comes before Shieeld’s liquidation and the completion of the transactions for other relevant parties. Now it will be to determine whether the Federal Court’s acceptance of the bank’s assumptions is appropriate.
M. Court said that the payment reached is an important result that raises important losses that threaten thousands of members after using the platform to deposit Macquarie’s super to Shield ”.
“Many members thought that their funds were safe when they use Macquarie’s super platform to invest in shields,” he said.
“The ASIC’s investigation will see that Macquarie has returned to their position before retirement savings are overwhelmed.”
More will come
