Trilogy launches a $60m Federal Court action against various City Pacific Directors

27 April 2012

Maurice Blackburn on behalf of Trilogy Funds Management Limited as responsible entity of the Pacific First Mortgage Fund, has today filed a claim against certain former directors and officers of City Pacific Limited in the Federal Court of Australia.

The claim seeks to recover damages of $60 million arising from losses on two loan transactions which were approved by the credit committee of City Pacific Limited.

Please click on the following link to view the Press Release.

We will keep you updated on this action as it progresses.