12 Jul 2012
TRUSTEES EXECUTORS LTD V PERPETUAL TRUST LTD HC AK CIV 2012-404-3569
- Citation
- openlaw-2d7773c7_7874_4dbf_8985_f47d5f7936ac.pdf
- Court
- High Court
Because the statutory supervisor formed an opinion of significant risk of material prejudice to security holders and market confidence, the Court made interim protective orders: appointed two named Observers with access and oversight powers limited to the two funds, required independent valuations of charged properties to be filed by set dates, accepted and recorded undertakings from Perpetual that restrict asset dealings and require reporting, and confirmed a moratorium on Mortgage Fund redemptions; these measures were necessary and proportionate pending a substantive hearing on 2–3 August 2…