Unitholder Update – 24/07/19

We had advised in earlier updates that, acting on behalf of the PFMF, we supported the appointment of Messrs Van de Velde and Cronin to be trustees of the Sullivan bankrupt estate.

Mr Sullivan has now brought proceedings to remove those trustees and have them replaced with other trustees (David Clout and Patricia Talty, who Mr Sullivan had previously appointed to administer his bankrupt estate).

The parties are currently in discussions in relation to these proceedings and once we have further information we will provide this to investors.