18 December 2015
As unitholders are aware, the Fund commenced a Federal Court action against former directors and executives of City Pacific Limited in respect of losses sustained by the fund. At the centre of the claim is the defendants’ alleged failure to follow the requirements of the Fund’s lending criteria when making decisions to lend to former property development company, Atkinson Gore Agricultural Pty Limited, in 2006 and 2007.
Justice Wigney will deliver the Federal Court’s decision and reasons for Judgement on Friday, 18 December at 12pm EDST.
For more information please refer to the press release below, or should you have any enquiries, please call Balmain Trilogy Investor Relations on 1800 194 500 or email email@example.com
Download: Press Release December 2015