There are now five retirement villages caught up in the LM administration cobweb, being remnants of the failure of Peet and Village Life that LM had been landed with as a mezzanine funder. Two weeks ago LM called in administrators FTI Consulting for the management company of their eight investment funds. It is understood the administrators have now applied to be appointed receivers and ASIC is supporting FTI to also be appointed receiver of the largest fund, the $400 million Managed Performance Fund. ASIC has also suspended LMs financial services license for two years, effectively ending their ability to raise funds. The impact on the retirement villages is unknown.
The Weekly SOURCE
CHSP provider Momentum Collective with 5,000 clients appoints voluntary administrator
Third Sector Australia Limited, trading as Momentum Collective, has entered voluntary administration, putting the future of 5,000 clients – including 674 receiving Commonwealth Home Support Programme (CHSP) services – under a cloud. FTI Consulting was appointed administrator on 16 October 2025.