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flag Chef Scott Pickett’s companies entered administration after a $12M loan from collapsed fund First Guardian became unrecoverable.

flag Celebrity chef Scott Pickett has placed two companies linked to his hospitality group into administration following the collapse of the First Guardian superannuation fund, which had provided a $12 million loan now deemed likely unrecoverable. flag Despite the financial restructuring, Pickett confirmed his Melbourne restaurants—Matilda, Longrain, Chancery Lane, and Smith St Bistrot—will remain open, with staff paid on time and bookings and vouchers honored. flag He is seeking an investor to stabilize the business, while the Commonwealth Bank has appointed receivers to sell assets including a Fitzroy apartment and the Chancery Lane premises. flag The fund’s operator, David Anderson, resigned amid allegations of mismanagement, and ASIC is investigating the fund’s investments, including those in Pickett’s ventures.

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