News

Vision Securities, sunk by failed loan settlement

Thursday 1st of April 2010

Trustee Perpetual Trust called in receivers Rod Pardington and David Levin of Deloitte after Vision failed to settle a mortgaged property last week that was expected to generate some $6.75 million and keep it afloat. Vision's directors told Perpetual's head of corporate trust Matthew Lancaster they believed the company would be unable to meet its ongoing debenture obligations.  

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