Business
Qld Presbyterian church in receivership – The Australian Financial Review
The Presbyterian Church of Queensland has been placed in receivership, leaving $60 million in deposits paid to its aged care operator PresCare in doubt.
It is understood there are at least $60 million in refundable accommodation deposits (RAD) in doubt. A RAD is guaranteed by the government so if there is a default, it is required to pay the money owed to the resident.
PCQs aged care facilities, schools, congregations and other community services will continue operating while the receivers gain a better understanding of the organisations position.
Presbyterian Church of Queensland (PCQ) is regarded as a Letters Patent Entity, rather than a registered…
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