The Cat and Fiddle is slated for redevelopment, but Pelorus questioned whether Centro would begin construction without funding in place, saying "we have seen something like this before". In a letter to investors in Centro's MCS 19NZ/I fund, which was released yesterday, Pelorus said the Cat and Fiddle Arcade in Hobart represented a key risk for the fund. A meeting for MCS11 investors will be held on Thursday, April 10. It has called unit holder meetings backed by clients of financial planning firm Money Managers, which has garnered proxy votes and will be able to appoint Pelorus manager with support from more than half of the investors in each fund.Ī meeting will be held in Pelorus's office in Neutral Bay, Sydney, on Monday for investors in Centro's MCS 16 fund, while the MCS19NZ/I meeting is set down for Wednesday. Pelorus, which controls a $350 million portfolio of shopping centres, is seeking to take control of three Centro syndicates - Centro MCS 16, Centro MCS19NZ/I and Centro MCS11. The scene is set for a showdown on Monday in the battle for control of three Centro Properties Group syndicates, after rival fund manager Seph Glew's Pelorus Property Group again accused Centro of "inappropriate behaviour" over the funds' handling of development projects.
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