Perpetual Trustee Company (PTC) has filed a claim with the Supreme Court of NSW against Elderslie Finance Corporation (EFC), its subsidiary Australian Integrated Finance and several directors of the two entities.
PTC wants compensation for alleged 'misappropriation' of trust money.
It is unclear which directors are involved or how many.
Last month, Perpetual Trustees WA (PTWA) appointed PricewaterhouseCoopers (PwC) as receivers to the group, after the accountancy firm identified liquidity problems.
PTC and PTWA are both subsidiaries of Perpetual Limited, but represent different groups of investors.
PwC suggested EFC would become insolvent unless the group received a cash injection to meet its short-term liquidity requirements.
The value of the assets owned by the group at the time fell short of the liabilities, and a declaration of insolvency would result in a significant shortfall in the position of secured debenture holders.
PwC is currently assessing the financial situation of the group and will look into selling the assets.
Neither Perpetual nor PwC could say whether the legal action will influence a potential sale of assets.
