The Presbyterian Church of Queensland placed its legal entity in receivership on Wednesday. It runs Fairholme College.
The Presbyterian Church of Queensland placed its legal entity in receivership on Wednesday. It runs Fairholme College.

Fairholme College chair responds to Presbyterian Church receivership

The Fairholme College leadership team moved to reassure staff and students it was in a good financial position, despite the Presbyterian Church of Queensland going into receivership.

The church applied to the Supreme Court of Australia to place its legal entity, PCQ Letters Patent Entity, into receivership as a result of the financial collapse of its residential aged care provider – PresCare.

Despite the move, Fairholme College chairman Ian Andersen said it would be “very much business usual” at the school.

“While there are and have been significant complexities for PCQ throughout this process, the clear legal and financial advice is that Fairholme College’s operations are expected to be unaffected by the receivership,” he said.

“The Moderator of PCQ, Reverend Dr Phillip Strong, has indicated that the Church has worked hard for more than a year and continues to do so as it restructures and looks to meet its financial obligations which includes the sale of its residential aged care facilities.”

A spokeswoman for the college said Fairholme was in a good position and was not financially supported by the Presbyterian Church.

The Queensland Supreme Court appointed PwC Australia’s Michael Owen and Phil Carter as receivers of PCQ’s legal entity on May 12.

They said they would continue running its organisations while reviewing the entity’s financial affairs.

The PCQ entity includes congregations, the Queensland Theological College, Fairholme College and the embattled aged care provider, PresCare

As the aged care arm of the church PresCare operates residential care homes across Queensland along with home care services, day therapy, dementia care and respite services.

Originally published as Fairholme College chair responds to Presbyterian Church receivership