LM Investment Management had concerns regarding their ability to meet creditor obligations," the source said. In November last year, LM lost control of a feeder fund to its flagship LM First Mortgage Income Fund, competing Sydney-based Trilogy Funds.
The move effectively takes control for the winding up out of the hands of the liquidators appointed to FMIF's responsible entity, LM Investment Management ... have charge of winding-up FMIF...' Trilogy Funds Management Limited (Trilogy) also applied.
For its part, FTI is now recommending liquidation. Trilogy is seeking orders in the Queensland Supreme Court to replace LM Investment Management, and therefore FTI, as responsible entity. Judgement is pending.
The management of ... called in to take charge at LM Australia and LM Investment Management. I will come back to that. First, a little background. In July 2012 or thereabouts, we at LM became aware of a small entity called Trilogy, which had its eye.
PETER Drake is as mad and hell and is not going to take it any more. The CEO of Gold Coast-based LM Investment Management is under attack from the Sydney-based Trilogy Group. Trilogy a while back acquired a fund in the LM stable and now has its sights on.
Hartel, an Independent Financial Planner and manager of the first East Coast office for Trilogy Financial Services, recently was awarded the Accredited Investment Fiduciary® (AIF®) Designation ... with a boutique investment management firm.
The fund's Brisbane-based management ... in another LM fund to elect Trilogy as the fund manager to replace LM. Drake denies that Bacon's theory is true. "That's ridiculous," says Drake. "A Ponzi, as I understand it, is where there is no asset.
The Supreme Court of Queensland has ordered that the LM First Mortgage Income Fund be wound up by FTI Consulting, which is the administrator of the fund manager, LM Investment Management. That comes as a blow to rival fund manager Trilogy, which had.
Thirteen hundred New Zealand investors had put money into the Currency Protected Australian Income Fund run by Queensland-headquartered LM Investment Management ... after another Australian fund management firm, Trilogy Capital Group, attempted to take.