Issue Date:  -  Friday, 7 March 2003

Supervisor appointed to Forrestfield Real Estate agency

The District Court yesterday approved the appointment of a Supervisor by the Real Estate and Business Agents Supervisory Board (REBA) to M.W. Group Pty Ltd trading as "Century 21 Morton & Wright", and suspended the Agent's real estate licence until further order.

REBA has now appointed Mr Tony Bevan of Horwath - Perth, Chartered Accountants of 128 Hay Street, Subiaco, WA, 6008, as Supervisor of the real estate business carried on by the agent.

REBA is also aware that an Administrator has been appointed to the business by the principal of the agency.

Clients of the agency are currently being contacted by REBA and Consumer Protection staff, to make them aware of the situation at Century 21 - Morton & Wright.

The Supervisors role will be to confirm client's deposits, bonds and rent collections made to trust accounts and assess any deficiencies that may exist. The Supervisor will also liaise with the Administrator to ensure the collection of rent from tenants and payments to landlords for existing property management arrangements.

REBA advise that its Fidelity Guarantee Fund may be available to provide compensation to consumers if they have lost funds through the criminal or fraudulent actions of a real estate agent.

There are legal requirements concerning any such claims. The claims process will be explained to clients of Century 21 - Morton & Wright and they will be invited to lodge claims in the event that losses have been sustained.

Details about the Fidelity Guarantee Fund are available on REBA's website at www.reba.wa.gov.au <http://www.reba.wa.gov.au/>

Staff can be contacted on 9282 0560 to provide information and advice.