LM court date pushed back
LMIM has been in voluntary administration since March.
FTI Consulting was initially called in as administrators but a court ruled there were too many conflicts of interest between it and LM for it to continue in that role for the Managed Performance Fund and appointed Korda Mentha instead.
Trilogy says the same must apply for the mortgage fund and believes it has the support of investors to take over as responsible entity.
“A new independent RE can manage down the loan book/security assets over time with the view to maximising recovery… a receivership winding up will negatively impact property valuations and sales and expose the income fund to multiple layers of fees.”
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