Japara Trust funds: Dispute raises allegations of mismanagement of bonds

Jul 19 2010 Updated July 4, 2023

The Weekly Source

1 min read

The former CEO of Japara Holdings, which has about 2800 aged care beds across Australia, has alleged Japara Aged Care and Retirement Property Trust, which owns the homes managed by the group, failed to pass on $7.83 million in accommodation bonds paid by residents. Arnan Rouse also alleges the trust borrowed $100 million from the group in order to pay distributions to unit holders despite telling investors payments were made from cash earnings.

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