Dispute Over Shield Remediation
Paul Chiodo, former director of Shield's responsible entity, and court-appointed liquidators Jason Tracy and Glen Kanevsky of Alvarez and Marsal are exchanging criticisms through media releases.
The dispute centers on who will cover costs for investors and the claim of a "unitholder-first" deal proposed by Chiodo.
The judge has urged us to mediate this matter, and the only settlement that makes sense is to make the Shield unit holders whole.
Chiodo seeks the release of $110 million in frozen funds and the sale of exchange-traded funds (ETF) worth $210 million, with the proceeds going directly to investors.
The liquidators contest Chiodo's claims, disagreeing on mediation and the proposed deal.
Author's summary: Chiodo and liquidators dispute Shield remediation costs.
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