A victim of notorious paedophile priest Michael Glennon received just $75,000 from the church in 2016, but the Catholic Archdiocese of Melbourne has now agreed to pay him a further $1.75 million.
The 65 convicted paedophiles and rapists who live at the Corella Place facility near Ararat in Victoria are free to come and go, can use mobile phones and collect Centrelink benefits.
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Allens advises on $4.2bn WestConnex refinancing
Allens has advised the lenders on WestConnex’s $4.2 billion refinancing, which reached financial close on 18 December 2020.
The $4.2 billion of new non-recourse debt comprises $3 billion of bank term debt facilities with tenors of three, five and seven years, and a $1.2 billion two-year bridge facility. The interest rate exposure on the term debt facilities will be fully hedged.
Along with refinancing WestConnex’s debt in respect of its M4 Asset, the refinancing restructures the previous debt structure by introducing a group funding platform to which other WestConnex assets could be added in future.
‘It was a privilege to advise what was a very large group of lenders on this novel refinancing structure, which will streamline existing debt to provide WestConnex and its Sponsors with a more versatile funding platform for the future,’ said lead Partner and Head of Project Finance Michael Ryan.