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Update #5 ~ Rangelea Holdings Court Action

This morning (10 December 2021) the Chief Justice of South Australia presided over a directions hearing involving ATLA.

There are two matters before the Court. 

  1. The Rangelea matter which is the application by the directors of Rangelea to havepayment of the compensation moniesthe suspended compensation monies paid to Rangelea immediately; and
  2. The ATLA matter which is the application by the special administrator of ATLA for access to information about the management of the Master Trust by Rangelea and to have an inspector appointed to the Master Trust to report to the Court on how the directors of Rangelea have spent and distributed the compensation money. 

The Court made orders for the parties to file their evidence and has scheduled another directions hearing for 09:30 on 28 January 2022. The Chief Justice also advised that the trial will likely be in March or April 2022 and last for a maximum of 5 days.

I will keep you informed of the outcome of the directions hearing on 28 January 2022.Peter McQuoid
Principal / PDM Consultancy 

Special Administrator