Embattled property developer Paul Chiodo’s collapsed Keystone Asset Management could be rebirthed via a deal that would steer it away from liquidation.
Embattled property developer Paul Chiodo’s collapsed funds management business could be rebirthed via a rescue deal, despite the risk that such a move could effectively end the administration sparked by the corporate watchdog’s probe into allegations of misconduct.
“I completely support, and will continue to vigorously fight for, a DOCA. We all know that this is the best outcome for our 5000 members, who want to see this resolved,” Chiodo said. Special situations group Arbitrium Capital Partners has confirmed to this masthead that it is assessing whether to make a DOCA proposal for Keystone.
The watchdog declined to comment on whether it supported the prospect of a deal or if it would limit its investigations into the group.
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