Chronos Care closes nursing homes in Alphington and Mount Eliza while debt rises to $ 25 million

Ms Kohu, who did not respond to requests for comment, has also been linked to an irregular stock market transaction, just months before the collapse of Chronos Care and its holding company Mali Nominees, according to the PCI Partners report.

Ms. Kohu instructed the company’s stockbroker to sell down the remainder of a stock portfolio held under Mali nominees in February, resulting in nearly $ 800,000 in revenue.

The company has previously given instructions to deposit the proceeds of sale into a Mali Nominees account, but Ms Kohu sent an email on February 17 instructing the broker to deposit the funds into her private account, according to the PCI Partners report released on 23 November.

“Ms Kohu has informed that the funds were subsequently used for business purposes, including repayment of RAD (refundable accommodation deposits) liability … I have received the bank statements which, at a preliminary point of view, support Ms Kohu’s claims, but a detailed review will be made by me in these transactions, “the liquidator said in the report.

The liquidator, along with forensic auditors, is also investigating a series of inter-corporate loans worth more than $ 11.5 million between several business entities linked to Ms. Kohu, including more than $ 3.8 million transferred to the Rita Kohu Family Trust.

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The disposal of two cars, both Mercedes, before the company was put into administration, will also be investigated by the trustee.

The collapse of Chronos Care has devastated staff and residents at both facilities, with many furious at the involvement of the Apostolatos brothers and the inability of the federal government to adequately regulate the sector.

Dr. Michael O’Ryan placed his 93-year-old mother in Ranelagh Gardens about five years ago.

He said he could not understand how more than $ 16 million in refundable housing deposits could not be accounted for by liquidators and forensic auditors nearly four months after their appointment.

“It all happened because the federal government gave the operating license to two bankrupt chicken farmers. In other words, their negligence and incompetence have caused the whole problem,” Dr O’Ryan said.

“This could be resolved in a single blow by Health Secretary Greg Hunt. But so far he has refused to consider this option.”

The recent attempts by the liquidator to sell the facilities in Alphington and Mount Eliza had failed because potential buyers were reluctant to take responsibility for having to repay existing residents’ deposits.

Fee Sievers has been the lifestyle and activity coordinator at the Alphington facility for the past six years.

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She said she was disgusted by the company’s collapse and feared that more vulnerable residents would not survive the move to another home.

“We all hoped that someone would buy both homes and we could all stay together and save our residents from the atrocities of having to move. We are furious at the owners but also at the government for giving them access to the ties that families thought were safe and immovable. “

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