Oaktree has appointed receivers to the fallen group, enforcing its rights under the note facility after Blue Sky failed to reach its minimum required recurring earnings for the first quarter.
The administration is limited to the group and does not extend to its Alternative Access Fund along with its other subsidiaries.
Blue Sky last week withdrew from negotiations for Wilson Asset Management to take over management of the ASX-listed Alternative Access Fund.
The fund is now considering its options including a wind-down and a return of capital to shareholders.
This appointment is necessary if Blue Sky is to maintain its investment teams, key clients and stabilise the operations and capital structure of the business, Blue Sky told its sharehold…
Read the full article at: https://www.investordaily.com.au/markets/44969-blue-sky-in-receivership