The Australian Securities & Investments Commission has obtained interim Federal Court orders preventing Falcon Capital Limited directors David Anderson and Simon Selimaj from leaving Australia, and freezing Mr Selimaj’s assets, as part of its ongoing investigation into the First Guardian Master Fund. The travel restraint orders bar Mr Anderson and Mr Selimaj from leaving or attempting to leave Australia until 27 February 2026. The asset-freezing orders, also in place until 27 February 2026, restrain Mr Selimaj from removing property from Australia, dealing with property (including selling or mortgaging), incurring new liabilities, and dealing with money held in bank accounts. ASIC sought the orders to ensure the directors remain available to assist the investigation and to preserve assets while inquiries continue. The matter sits against earlier court actions after Falcon, as responsible entity for the First Guardian Master Fund, suspended applications and withdrawals in May 2024, leaving most investors unable to access funds; the Federal Court had already frozen the assets of Falcon, First Guardian and Mr Anderson in February 2025 and appointed liquidators to wind up Falcon, First Guardian and related unregistered subsidiary funds in April 2025, alongside a receiver to Mr Anderson’s property. ASIC is also seeking the appointment of a receiver and manager to Mr Selimaj’s personal property, with a case management hearing listed for 22 July 2025.
Australian Securities & Investments Commission 2025-07-02
Australian Securities & Investments Commission secures interim travel restraint orders for Falcon Capital directors and freezes Simon Selimaj’s assets in First Guardian investigation
The Australian Securities & Investments Commission (ASIC) has secured interim Federal Court orders preventing Falcon Capital Limited directors David Anderson and Simon Selimaj from leaving Australia and freezing Mr. Selimaj’s assets amid an investigation into the First Guardian Master Fund. These orders, effective until 27 February 2026, aim to ensure the directors' availability and preserve assets. This follows previous court actions, including asset freezes and the appointment of liquidators and a receiver for Falcon and related entities. ASIC is also pursuing the appointment of a receiver and manager for Mr. Selimaj’s personal property, with a case management hearing scheduled for 22 July 2025.