Bankrupt estate of Mr Philip Sullivan
In December 2022, the bankruptcy trustee administering the bankrupt estate of Mr Philip Sullivan provided a Notice to Creditors, including Trilogy Funds, proposing to transfer the bankruptcy administration to a new trustee.
In February 2023, Trilogy Funds received confirmation from the new trustee that their appointment has been finalised and Trilogy Funds is currently in dialogue with the new trustee.
To provide unitholder’s clarity on this process, we highlight that the bankruptcy trustee is an independent party to Trilogy Funds and the administration of the bankrupt estate is an independent process. As such, Trilogy Funds does not control the appointment of the trustee, nor does Trilogy Funds retain control over the trustee’s administration of the estate.
Trilogy Funds will seek to provide unitholders a further update on this matter in due course.
Management fee
Unfortunately, the Fund can not be wound up while there are outstanding matters such as the bankruptcy matter to be finalised. The finalisation of these matters are generally outside our control but in good faith and in recognition of the time taken in this matter, Trilogy Funds has resolved to waive 1.00% p.a. of its management fee from 1 April 2023 for the duration of the term of the Fund.
For clarity, from 1 April 2023, Trilogy Funds will be entitled to a management fee of 0.50% p.a. calculated on the monthly gross asset value of the Fund.
Should you have any enquiries, please call BalmainTrilogy Investor Relations on 1800 194 500 or email investorrelations@trilogyfunds.com.au