Lifestyle Communities in trading halt ahead of VCAT decision
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Lifestyle Communities in trading halt ahead of VCAT decision
Property developer Lifestyle Communities has entered a trading halt on the ASX. It is awaiting a decision by the Victorian Civil and Administrative Tribunal (VCAT) on proceedings relating to unethical conduct. The company’s shares were struck down last year
The context: Lifestyle Communities said it expects to make an announcement to the ASX this morning, after VCAT president Ted Woodward delivers a decision on the proceedings at 10am AEST.
The company’s shares were struck down last year after residents at one of its projects in northwest Melbourne accused the affordable housing provider of unethical conduct and lodged complaints with VCAT.
Homeowners lodged claims over fees they believed were excessive and in breach of the law.