Demonstrating that Not for Profits can access funds, Life Care has paid $9 million to acquire Anglicares Iloura aged care facility in Norwood and has now appointed Marchase Partners and Thinc Projects to modernise their other facilities plus their head office over 10 years. The funding requirement is $180 million. Their CEO, Allen Candy, says their aim is to modernise and de-institutionalise their facilities. Work has commenced on creating 35 new beds at a cost of $9 million at Aldinga Beach Court.
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...