Prime Trust Liquidators Hunt Big Fish

We are delighted to report that litigation funding has been secured to prosecute the Management Rights Claim and would encourage all investors to read the attached article by Mr Nick Lenaghan in the Australian Financial Review entitled “Prime Trust Liquidators Hunt Big Fish”.

The Management Rights Claim is a claim first identified by the Prime Trust Action Group several years ago and relates to the circumstances through which the management rights to the Trust’s retirement villages were transferred to entities associated with Mr Lewski without proper consideration and then on-sold to Babcock & Brown Communities Ltd (now Lend Lease Primelife) in a transaction which generated $60m for the Lewski family. We intend to distribute a Unitholder Update shortly with further details.

Prime Trust Liquidators Hunt Big Fish, Nick Lenaghan, AFR 23 July 2014_1

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