24 Jul 2012
TRUSTEES EXECUTORS LTD V PERPETUAL TRUST LTD HC AK CIV 2012-404-3569
- Citation
- openlaw-41c01e42_1f58_4f09_aed5_9d09fc71d2df.pdf
- Court
- High Court
The Court clarified that observers are authorised, pending further order, to attend Perpetual Trust board meetings in relation to the Cash and Mortgage Funds, to ask questions about Torchlight advances, to access fund-related information and trace cash flows, but must not usurp directors' decision-making; observers' costs for those observer functions are payable from Perpetual Trust non-Fund assets; observers must file a joint affidavit by 25 July 2012 and material arising from statutory supervisor powers must be filed separately by 27 July 2012.