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Showing 1 - 10 of 10 results for "Wellington Capital"

Court approves Premium Income Fund settlement

LAURA MILLAN  |  WEDNESDAY, 10 DEC 2014
... generate income of about $18.4 million from the settlement of both the class action and the responsible entity Wellington Capital's claim. It also estimated that profit after capitalised overheads but before tax would be of about $8.7 million. IMF is ...

Wellington forced to pay ASIC's cost of appeal

LAURA MILLAN  |  FRIDAY, 12 JUL 2013
Wellington Capital will be forced to cover the costs incurred by the Australian Securities and Investments Commission (ASIC) after the regulator brought legal proceedings against the responsible entity of the Premium Income Fund (PIF). The cost of the ...

ASIC continues proceedings against Wellington Capital

LAURA MILLAN  |  TUESDAY, 11 JUN 2013
... Australian Securities and Investments Commission (ASIC) has taken a new step on its legal proceeding against Wellington Capital, the responsible entity of the Premium Income Fund (PIF) in the Federal Court of Australia. The Court considered that Wellington ...

Wellington Capital to take PIF case to High Court

LAURA MILLAN  |  FRIDAY, 31 MAY 2013
Wellington Capital has said it will take the Premium Income Fund (PIF) case to the High Court after the Federal Court ruled that distribution of PIF shares to Asset Resolution Limited (ARL) was invalid. The rule overturns an early decision of the same ...

PIF Action Group questions ASIC decision on Wellington

LAURA MILLAN  |  WEDNESDAY, 1 MAY 2013
... conflict started in 2011, when PIF unit holders under the umbrella of the PIF Action Group tried to remove Wellington Capital as managers of the PIF following a significant loss of assets, from $966 million in December 2007 to $253 million mid-2010.

Guidance sought on Wellington's share distrib plans

MARK STORY  |  MONDAY, 15 OCT 2012
... Securities and Investments Commission (ASIC) has commenced proceedings in the Federal Court challenging whether Wellington Capital Limited (Wellington) is legally able to distribute shares, as opposed to cash, to the unitholders in the Premium Income ...

PIF Action Group lands Federal Court win

ELISE BURGESS  |  TUESDAY, 21 JUN 2011
The Federal Court has sided with the Premium Income Fund Action Group (PIFAG) against Brisbane-based Wellington Capital Limited, finding Wellington breached corporations law in its role as management and trustee for the Premium Income Fund. Yesterday ...

PIF Investor action group claim small victory

RACHEL DAVIS  |  FRIDAY, 10 JUN 2011
Wellington Capital has agreed to suspend any further action in relation to a planned rights issue, until a full hearing on 12 June, following an injunction application by PIF Action Group (PIFAG). PIFAG is seeking an injunction to cancel units in the ...

Investor revolt threatens 30 fund managers

ALISON BEVEGE  |  WEDNESDAY, 18 MAY 2011
... represents 27 per cent of the investors in PIF and has taken steps to convene a meeting to replace existing managers Wellington Capital Limited. Wellington Capital Limited say they have done their best, and that have the support of many other unit-holders ...

Unitholders ask ASIC/NSX to ban cap raising

ELISE BURGESS  |  MONDAY, 9 MAY 2011
... Constitution, NSX Listing Rules and not in the interests of Unitholders. The raising, announced on May 6 by Wellington Capital, the responsible entity of the Premium Income Fund (PIF), is a placement of 113 million units at 10 cents to raise $11.3 million ...
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