Again aged care demonstrates it needs deep pockets to operate in regional Australia. The Anglicare Diocese of Canberra and Goulburn says it does not have the capital resources to increase the number of beds required across its three Nullica Lodge care facilities in Eden, Merimbula and Tura; it has 394 residential beds. They believe they need to double the beds to 800 to be viable. They said they expect to lose $2 million next year if not sold. It has appointed Ernst & Young to manage their sale. Bupa has already purchased their 85 bed Eden facility.
Five Prime Trust directors found to a breach their duties when handing over $33 million to Bill Lewski
Corporate watchdog ASIC was successful in the Federal Court, obtaining a ruling that the five former directors of Prime Trust are liable for breaching their duties as officers of the trust APCHL. They agreed to the amendment of the Constitution of...