As previously advised, the Trusts are unable wind up completely by June 2014. There is an outstanding legal action, concerning both Trusts, which the RE has brought against a valuer to the Trusts. If successful, this action will increase the value of the underlying unit price, however unitholders should be aware that matters such as these are complex and may not result in a settlement in the Trust’s favour. We have been advised by legal counsel that we have a strong case and will continue to vigorously progress the legal action and will you keep you informed as any news comes to hand.There are also some loans which the Manager is working through in order to wind up the Trust.
We will keep you informed on the wind up of the Trust as and when new information comes to hand.
If you have any questions regarding the wind-up of the Balmain AQUA Trusts, please contact Stephen Tunley or Caroline Crocker on 02 9232 8888 or email balmainfunds@balmain.com.au.
For more information on hardship withdrawal requests, please contact Client Services on 1800 225 624 or email balmainfunds@balmain.com.au.
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Snapshot as at 28 January 2022
Balmain Base Rates are our indicative base rates for commercial property lending. A lending margin is added to these rates depending on the nature and term of the transaction.