Seasons Supported Living has bought the financially troubled Lifestyle Estates retirement village in Ipswich, west of Brisbane. The company has served eviction notices on 46 tenants amid reports that they intend to convert the property into an aged care facility to increase profitability. Seasons managing director Paul Browne said residents had been asked to relocate by March 2011. It is unclear whether Seasons has received or applied for planning permission to transform the property into an aged facility which could leave them open to fines and more bad press.
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...