The Board of Prime Trust, with over 48 villages and care facilities across Australia, wants more
time for its strategic review of their business, which may call for the sale of some or all of its
properties. This is a big turnaround from when boutique Melbourne corporate advisor Kidder
Williams bought out Prime founder Bill Lewski for $80 million just 9 months ago. Decisions
were due mid January but they have told the Stock Exchange they need more time.
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...