Westpoint Management Ltd
Westpoint Management Ltd acted as responsible entity of the Warnbro Fair Syndicate (“WFS”), a managed investment scheme which commenced in 1999, until 4 August 2006, when Elderslie Property Limited took over as the responsible entity.
The Paragon Commercial Syndicate (“PCS”) is a managed investment scheme of which Westpoint Management Ltd acts as responsible entity.
The PCS owned the Paragon Retail Arcade and Office Tower located in the Perth CBD. A first and final distribution was paid to the investors of PCS in November 2013. The winding up of the scheme was completed and the scheme was deregistered at ASIC on 25 April 2014.
The Westpoint Income Fund (“WIF”) was a managed investment scheme which was developed to invest in property based projects.
Westpoint Management Ltd acted as responsible entity of WIF.
WIF advanced loans totaling $10.856M to three Westpoint-related entities.
A final distribution was paid to the investors of WIF in June 2018. The winding up of the scheme was completed as at 30 June 2019.
Westpoint Management Ltd is Trustee of the 60 Market Street Trust (“the Trust”).
The trust acquired a vacant office building located at Market Street Melbourne and commenced converting it into approximately 280 hotel apartments and 24 residential apartments.
On 22 December 2006, David Lombe and Salvatore Algeri were appointed as Receivers and Managers of the Market Street Property.
Please note that I have not been appointed over Market Street Mezzanine Ltd or Market Street Mezzanine No. 2 Pty Ltd. Investors who hold promissory notes issued by either of these companies, both of which are in liquidation, should contact the liquidator, PriceWaterhouseCoopers on (03) 8603 2467 or visit pwcrecovery.com
Westpoint Management Ltd is Trustee of the 297 Murray Street Trust.
The 297 Murray Street Trust is a special purpose vehicle that was commenced to own and develop the former Town and Country Building Society Office at 297-305 Murray Street, Perth.
The property was developed into a complex comprising:
120 hotel rooms
2 retail stores
The trust does not have any external investors.
Simon Read was appointed Provisional Liquidator of Westpoint Management Ltd on 9 February 2006 under an order made by the Supreme Court of Western Australia.
On 11 April 2006, the Supreme Court of Western Australia ordered that Simon Read be removed as Provisional Liquidator and Simon Read and Andrew Birch were appointed as Official Liquidators of Westpoint Management Ltd (In Liquidation).
Westpoint Management Ltd acts as Trustee for a number of Trusts and as Responsible Entity for 2 Managed Investment Schemes. Details of the position of these entities can be found under “Investor information”.