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Perpetual challenges FMA raids

Tuesday 28th of August 2012

The FMA revealed last month that it was investigating Perpetual, a subsidiary of PGC, over a $28 million loan facility to the Torchlight Fund, which is run by PGC boss George Kerr.

Perpetual has taken a judicial review proceeding against the FMA, which it claims over-stepped its powers when it executed a search of PGC-related companies in April.

In a case that began yesterday in t...

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