3 Aug 2012
TRUSTEES EXECUTORS LTD V PERPETUAL TRUST LTD HC AK CIV 2012-404-3569
- Citation
- openlaw-4453de99_d4d4_4180_8554_e680e813eac5.pdf
- Court
- High Court
Because the Torchlight advances had been repaid the immediate need for security orders was negated, but the court retained jurisdiction to protect investor confidence and oversee the process of internalisation and winding up; accordingly the court continued the appointment of Observers, preserved existing undertakings, required Perpetual to provide detailed proposals for winding up the Mortgage Fund and for internalisation of the Cash Fund within specified timeframes, adjourned the s49 application for substantive hearing, and imposed a timetable for resolution of costs with the clear directio…