Unitholder update – 23/03/2020

We understand that the Trustee of Philip Sullivan’s bankrupt estate is continuing his investigations in to the examinable affairs of Mr Sullivan. Those investigations are ongoing. It is expected that those investigations will last for about another 3 months (subject to any delay caused by the Corona virus). While those investigations are ongoing there is little that the Trustee can report on to creditors, including Trilogy.

As you may appreciate, the Trustee must be allowed time free from interference from creditors, including Trilogy, to investigate the bankrupt’s affairs and to form an independent view on whether any recoveries can be made for the benefit of the bankrupt estate and its creditors, and whether a Public Examination is warranted. Once the Trustee has formed a view on any further action to be taken following his investigations, we will report accordingly to investors.

Trilogy expects to be in a position in 3 – 4 months’ time to provide a further update to investors about any views the Trustee has formed following his investigations into the bankrupt’s affairs.