US investment manager Beaconsfield Capital says it was forced to appoint receivers to digital wealth platform New Quantum after a demand by Keystone Asset Management for immediate repayment of a $15 million unsecured loan.
Beaconsfield, a technology-focused hedge fund, appointed McGrathNicol partners Damien Pasfield and Shaun Fraser as receivers of New Quantum Holdings last week. It invested $50 million in April 2023 and is the only secured creditor.
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Max Mason covers insolvency, courts, regulation, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
