The Presbyterian Church of Queensland (PCQ), which also operates a Toowoomba private school and aged care provider PresCare, has been placed into receivership.
- The Presbyterian Church of Queensland appoints a receiver after a year-long restructuring
- PCQ’s aged care facilities, schools, congregations, and other services are set to continue operating
- Moderator says the move is “the best next step”
PCQ’s aged care facilities, schools, congregations, and other services are set to continue operating while the receivers conduct a review to gain a better understanding of the entity’s position.
PCQ moderator Reverend Dr Philip Strong said the decision was regrettable but necessary to ensure that PCQ could continue to provide important services to the Queensland community in the long term.
“While our team has worked hard for more than a year to restructure the operations, historical contractual arrangements have made this extremely challenging,” he said.
“While making the decision to appoint a receiver is a difficult one, we believe it is the best next step.”
‘Business as usual’
Fairholme College in Toowoomba, which is operated by PCQ, said in a letter to parents that it would be “business as usual” for the school.
“The clear legal and financial advice is that Fairholme College’s operations are expected to be unaffected by the receivership,” said the school’s chairman Ian Anderson.
“[We] reiterate that as an Independent School not funded in any way by PCQ, it is, and will be into the future, business as usual for Fairholme College.”
The Queensland Supreme Court appointed PwC Australia’s Michael Owen and Phil Carter as receivers of PCQ’s legal entity on the evening of May 12.
Mr Owen said the priority was “to work closely and constructively with PCQ and its stakeholders while we undertake a review of the entity’s affairs pursuant to the order of the court”.
“We plan to continue to operate the services that PCQ provides across the community on a ‘business as usual’ basis while we conduct this review, and we will update stakeholders further once this initial assessment has been completed,” he said.
The PCQ entity includes congregations, aged care provider PresCare and the Queensland Theological College (QTC).
PresCare recently contracted the sale of its residential aged care facilities in Maryborough and Rockhampton to the Apollo Care Alliance.