Business
Regulator investigates Presbyterian Church of Queensland fund as $26m from investors frozen – The Guardian
Exclusive: Parishioners fear loss of individual churches after receivers appointed to manage debts of $101m
The corporate regulator has launched an investigation into an investment fund run by the collapsed Presbyterian Church of Queensland that took $26m from investors, including church employees and clergy.
Queenslands supreme court appointed receivers to the church earlier this month. Guardian Australia has learned the church has debts of about $101m, mostly related to its aged care business, Prescare.
Parishioners say they are worried that selling individual churches and land out from under congregations…
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