Court shoots down Prime Trust liquidators’ bid for global proof of debt to compensate unitholders
The liquidators of retirement village group Australian Property Custodian Holdings, which went into administration in 2010 owing $948 million, have had their proposal to compensate unitholders under a global proof of debt rejected by a judge, who called the plan vague and “unsatisfactory”.
For information on rights and reprints, contact subscriptions@lawyerly.com.au