Court orders outside observers for Perpetual funds, 'substantive hearing' looms

Fri, 13 Jul 2012

By Paul McBeth July 13 (BusinessDesk) - The High Court has ordered two independent observers to keep tabs on Perpetual Trust's cash management and mortgage funds amid concerns over related party loans, and ahead of a substantial hearing early next month. Judge Paul Heath yesterday made an interim order for Pyne Gould subsidiary Perpetual to appoint Vivian Fatupaito and Christopher Duffy of WHK to oversee the activities of the two funds, according to his judgment. Perpetual will also have to get an independent valuation for five properties pu...

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