Babcock & Brown Communities Group 02 - Panel Declines to Conduct Proceedings and Publishes Reasons

The Panel has declined to conduct proceedings on an application dated 18 November 2008 from Australian Property Custodian Holdings Limited as responsible entity of The Prime Retirement and Aged Care Property Trust in relation to the affairs of Babcock & Brown Communities Group,1 which is the subject of a 40% proportional takeover bid by Prime Retirement (see TP08/105).