Baillieu Ally Faces Criminal Probe Over Collapse of Prime Trust


Unitholders may be interested to read the attached article from The Age, which appeared on the front page of the print edition, dated 14 September 2012.


The article reports that former APCH Directors may face criminal investigations over the collapse of the Trust.  The article also suggests that some Directors have sought to be excused from filing a defence to the Receivers' Listing Fee Claim due to concerns over privilege and self-incrimination.


The article also reports that Mr Carl Wilson, the lawyer representing Dr Wooldridge, stated in his Affidavit that his client "endured three days" of examinations by ASIC.  We would suggest that unitholders, many of whom have suffered more than three years of financial hardship as a result of the Trust's collapse, and who collectively are facing losses of more than $500 million, are unlikely to have any sympathy for any temporary inconvenience caused to Dr Wooldridge by the ASIC examinations.


The-Age-14-Sep-2012 The Age 14 Sep 2012 - gif