Residents living in two WA retirement villages owned by a group of companies trying to avoid bankruptcy are being assured their homes and livelihoods are protected and won’t be affected.
More than 800 retirees living in units at Settlers Lakeside in Ravenswood and Settlers Ridgewood Rise near Butler have been reassured laws are in place to protect them after Settlers Group entered into voluntary administration last week.
Residents at two WA retirement villages are assured their lives will continue as normal. Credit: iStockphoto
Damien Hodgkinson of DEM Asia Group was appointed voluntary administrator.
The group of companies, which also operates two villages in Queensland and one in New South Wales, has since gone into receivership, with Joseph Hansell, Ian Francis and John Park of FTI Consulting appointed as receivers and managers.
In a statement, FTI Consulting said the receivers and managers had taken control of the five over 55s villages and that they would be operated as usual, with a sales campaign for the whole group in full swing.
“The receivers and managers intend to work with all stakeholders and Settlers Group service providers to ensure that there is no interruption in the delivery of services to the facilities…