As the Federal Court determines penalties for Bill Lewski and his fellow directors of the collapsed Prime Retirement and Aged Care Property Trust after they were found guilty of breaching corporate laws, the trust’s liquidator is also taking aim, launching a $100 million-plus class action. The class action is backed by litigation funder LCM and directly targets Lewski, as well as his legal advisers Madgwicks Lawyers and Kidder Williams. It is understood that Prime’s liquidators are considering a further action against former auditors Pitcher Partners.
Prime Trust directors face class action for alleged secret bonus payments
Bill Lewski and fellow Prime Trust directors, already found guilty of corporate law breaches by the Federal Court, now face a class action for allegedly authorising secret multi-million dollar payments for themselves.