Unitholders Claims to Financial Ombudsman Service


As Action Group members may recall, Steve & Joanna O'Reilly, as unitholders in Prime Trust, lodged a claim against APCH to the Financial Ombudsman Service (FOS) more than a year ago.  This claim, if successful, has the potential to elevate all unitholders to rank as unsecured creditors in the Trust and lead to a much improved financial outcome for unitholders.  Unfortunately, over the course of the last year, APCH and Lawler Draper Dillon have continually stalled and have made no progress towards resolving the O'Reillys' claim.  Recently, rather than respond to the serious issues and allegations raised in the above claim, Lawler Draper Dillon commenced legal action in the Supreme Court of Victoria in an attempt to strike out all unitholder claims submitted to FOS and thereby deny unitholders their statutory right of complaint.


For the information of Action Group members we attach a number of documents that may be of interest:



Submission to Court by APCH dated 14 July 2011


Submission to Court by FOS dated 29 July 2011


Letter from O'Reillys to APCH dated 29 July 2011


Letter from O'Reillys to APCH dated 3 August 2011

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