Village in Receivership
17 November 2013
“What happens if a Retirement village operator becomes Insolvent or goes onto Receivership?”
This paper was written by Les Armstrong, President of the Association of Residents of Queensland Retirement Villages (Inc) in May 2011. There have been a number of retirement village operator failures throughout Australia in recent years, and the various State Residents Associations have made a number of representations to their State Governments regarding the issues of concern for residents. Many of the representations were specific to the legislation in a particular State; however this document tries to extract some of the more general points.
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