May 30, 2014

Crikey Clarifier: Lowy loses, so what now for Westfield?

Yesterday was a rough day for Australia's second-richest man, with the future of his shopping centre empire uncertain.

Paddy Manning

Crikey business editor

Australia's second-richest man Frank Lowy, worth almost $7 billion, suffered a huge setback yesterday when a key vote to restructure the global shopping centre empire he co-founded in 1960 was postponed in the face of a backlash from investors.

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