"... The financial crisis has also impacted Austcorp Group Limited, the ‘ Vision’ project parent. Austcorp has recently taken the step to appoint BRI Ferrier as Voluntary Administrator (VA) whilst it undertakes a restructure.
I wish to confirm that this VA appointment does not apply to Vision Brisbane Pty Limited the company with which you have an unconditional contract for your apartment.
I wish also to assure you that your deposit funds or guarantees are safe and held in a lawyer’s Trust Account as required by Queensland law. Should the project not proceed, your deposit will be returned to you along with any accrued interest entitlements. However, we are still confident that we are able to meet our obligations to you in delivering your apartment to your expectations.
We will continue to keep you informed about progress of the project along the journey to completion and handover of your ‘Vision’ apartment.
Trevor Chappell, Director, Vision (Brisbane) Pty Limited"
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