As reported in the Fairfax media, the administrators of Peter Drake’s LM Investment Management, FTI Consulting, have billed $3.2 million between March 19 and July 31 this year.

That’s $24,000 a day.

They were selected and appointed by LM firstly as voluntary administrators.

Judge Jean Dalton (pictured) of the Queensland Supreme Court was quoted last week that the two insolvency practitioners, John Park and Gunette Mulle, “preferred their own commercial interests to the interests of the fund”. LM has a number of retirement villages under its financial control in QLD.