Following an application made by ASIC, the Federal Court has made interim travel restraint orders against Falcon Capital Limited directors David Anderson and Simon Selimaj. Those orders prohibit Mr Anderson and Mr Selimaj from leaving or attempting to leave Australia until 27 February 2026.
The Federal Court also made interim orders freezing the assets of Mr Selimaj until 27 February 2026. The Federal Court orders restrain Mr Selimaj from:
- removing his property from Australia
- selling, charging, mortgaging, dealing with or disposing of property
- incurring new liabilities, and
- withdrawing, transferring, disposing of or dealing with money held in bank accounts.
ASIC sought the orders to ensure Mr Anderson and Mr Selimaj remain in Australia to assist ASIC with its investigation and to preserve assets while ASIC's investigation is continuing.
ASIC is also seeking the appointment of a receiver and manager to the personal property of Mr Selimaj. That application has been listed for a case management hearing on 22 July 2025.
Background
In May 2024, Falcon Capital Limited (Falcon), the responsible entity for the First Guardian Master Fund (First Guardian), suspended the processing of applications and withdrawals from First Guardian subject to some limited exceptions. Since that time, the majority of investors have been unable to access their funds.
On 24 February 2025, the Federal Court made orders freezing the assets of Falcon, First Guardian and Mr Anderson (25-027MR).
On 9 April 2025, the Federal Court appointed Ross Blakeley and Paul Harlond of FTI Consulting as liquidators (Liquidators) of Falcon and ordered the Liquidators to wind up Falcon, First Guardian and related unregistered subsidiary funds. The Federal Court also ordered that Mr Paul Allen of PKF Melbourne be appointed as receiver to the property of Mr Anderson (25-055MR).
ASIC's investigation of the circumstances surrounding First Guardian is continuing.
More information
ASIC provides regular updates on this matter on its First Guardian Master Fund webpage.
