A Million to One


Following the screening of the 4Corners program "A Betrayal of Trust" on 4 March 2013, we have been inundated with emails and phone calls, with many unitholders referring to the comment by Mr Stirling Horne (as Liquidator of the Trust) that the odds of unitholders recovering their funds were "a million to one".

It seems that many unitholders were disheartened by Mr Horne's comment, thinking it referred to the probabillity of recovering any funds from their investment. After discussion with Mr Horne, we wish to clarify that Mr Horne was actually referring to the odds of unitholders receiving all of their funds back (or 100 cents in the dollar). The Liquidators' Report dated 22 February 2013 outlines some of the actions which may potentially lead to a return of funds for unitholders. It is understood that additional actions may also be considered against certain other parties.

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