Prime Trust finally succumbed and now has 3 or more receivers raking over its bones while Bill Lewski is believed to be still actively trying to keep his hat in the ownership ring. Lend Lease Primelife is in the box seat to acquire the Prime Trust villages it wants (rumoured to be just 4 or 5 of the 12 it has been managing). Also in its sights are the management rights to Macquarie problem child, Retirement Village group that has been creating heartburn for the original retail investors.
Legal Issues
VCAT rules Lifestyle Communities’ DMF model illegal
Lifestyle Communities’ business model is under serious threat after a ruling by VCAT President Justice Ted Woodward found its exit fee structure to be illegal. The ASX-listed land lease operator, which was valued at $861.9 million and placed in...
