Application for Directions
As previously reported, Trilogy Funds filed an application in the Federal Court of Australia last month seeking directions in relation to the winding up of the Pacific First Mortgage Fund (Fund).
The final hearing was held on 15 July 2024 and Trilogy Funds is pleased to advise that the Court granted the Orders sought by Trilogy Funds.
The final Order of the Court is available via the link below.
Interim Payment
Trilogy Funds is pleased to advise that the Fund is in a position to make a payment to both Litigation Recovery Right Unit holders ($8,765,787.18) and Ordinary Unit holders ($500,000). Both payments are scheduled to be made on Monday, 19 August 2024.
For Litigation Recovery Right Unit holders, you will receive a payment amounting to $0.0099 per unit. This payment represents the total amount of compensation to which holders of Litigation Recovery Right Units are entitled to under the Constitution.
For Ordinary Unit holders, you will receive a payment amounting to $0.0006 per unit. Trilogy Funds intends to make a final payment of the remaining funds prior to the final wind-up.
To ensure Trilogy Funds is able to facilitate the above payments, please ensure your bank details are up to date by contacting Balmain Trilogy Investor Relations on 1800 194 500 or at investorrelations@trilogyfunds.com.au.
Next Steps
Trilogy Funds continues to progress through the steps required to wind up the Fund. Some of these steps include:
- arranging and lodging the final financial and compliance audits;
- paying all current and future liabilities of the Fund;
- lodging required statutory notices;
- paying the remaining funds to unitholders in accordance with the Constitution; and
- transferring any unclaimed money to ASIC.
Subject to any unforeseen matters arising, Trilogy Funds is currently aiming to complete the wind up of the Fund by the end of the 2024 calendar year.