High Court irons out Perpetual Trust concerns over observers

Fri, 27 Jul 2012

By Paul McBeth July 27 (BusinessDesk) - The High Court has ironed out any confusion over the role of two court-appointed observers to funds caught up in related-party loans with the Pyne Gould Corp-managed Torchlight fund after Perpetual Trust sought an urgent hearing. Perpetual raised concerns the court-appointed observers, Vivian Fatupaito and Christopher Duffy of WHK, had "inadvertently" overstepped their powers, Judge Paul Heath said in a July 24 judgment. The judge clarified their role in overseeing the activities of the Perpetual cas...

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