Wooldridge may face ban over care group
4th September 2012
By Guest Writer
Dr Wooldridge, health minister from 1996 to 2001 under Prime Minister John Howard, was chair of Australian Property Custodian Holdings Ltd (APCHL) and owner of the Prime Retirement and Aged Care Property Trust before its collapse in 2010.
The trust managed an investment scheme that owned retirement villages in Queensland, NSW and Victoria.
The Australian Securities and Investments Commission (ASIC) alleged that, among other things, APCHL and its directors “failed to act in the best interests of the members of the Prime Trust” by arranging a $33