As reported in the Fairfax media, the administrators of Peter Drakes LM Investment Management, FTI Consulting, have build $3.2 million between March 19 and July 31 this year thats $24,000 a day. They were selected and appointed by LM firstly as voluntary administrators. Judge Jean Dalton of the Queensland Supreme Court is quoted last week that the two insolvency practitioners, John Park and Gunette Mulle, preferred their own commercial interests to the interests of the fund. LM has a number of retirement villages under its financial control in QLD.
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...