Prime Trust Action Group Queries Approach Adopted by Administrator


The Prime Trust Action Group believes that it was most inappropriate for the administrators to engage the services of an APCH director to assist them in their investigations.  The person engaged in this manner, and who has been remunerated from Trust funds, is a potential defendant to any ensuing Court action, and has a clear and obvious conflict of interest.  As the APCH director was placed in a position where he could potentially create, amend, destroy or otherwise tamper with key documents, PTAG has objected in the strongest possible terms to this arrangement.  Although we understand that the appointment has now, following our representations in this matter, belatedly been terminated, there remains lingering doubts about the process adopted by the administrators and the possible tainting of the administrators’ final report.  Copies of correspondence are attached so that unitholders can draw their own conclusions about this matter.

Correspondence with LDD