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The Cushing family are leading a revolt against management fees at National Property Trust and are confident of success at a special meeting of unitholders on July 29.
The family's investment vehicle, H&G Ltd, said yesterday that it would vote its 5.5 million units in the trust against resolutions four, five and six.
Resolution four needs the support of 75 per cent of unitholders and the other two need 50 per cent. The Cushing unit equates to about 3 per cent.
David Cushing said he had talked to many of the top 20 unitholders and there was widespread dissatisfaction. He felt confident that resolution four, which dealt with management fees, could be overturned.
