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.
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...