Finance expert calls on Lyndoch Living board to resign

Carol Altmann – The Terrier

The crisis around Lyndoch Living continues to deepen.

The following is a statement from the former Chair of Plenty Valley Community Health, Marcia O’Neill, where the CEO of Lyndoch Living Doreen Power worked briefly before being employed by Lyndoch.

Ms O’Neill has called upon the Lyndoch board to resign, and for an administrator to be appointed urgently.

Ms O’Neill is an experienced director and board chair, and a Fellow Certified Practicing Accountant, (FCPA) which recognises global experts in the field of accounting and business. When people the calibre of Ms O’Neill say the Lyndoch board must go, it must go:

“I respect and thank Percy Eccles for his courage in speaking up and I certainly understand his fear from past experiences in dealing with Ms Power when I was Chair of Plenty Valley Community Health (PVCH).

I see history repeating at Lyndoch Living, it’s not the first time, however in this frightful case the damage has been prolonged and action by the Board seriously lacking.

Fortunately, there has been tenacious reporting – which was courageous in the face of threats of litigation – providing some transparency by a local journalist which has documented the issues, decline and terrible harm being perpetrated at Lyndoch Living.

This reporting incurred threats of litigation personally against The Terrier and it remains to be seen if this was financed by Lyndoch Living.

Further, I believe Percy Eccles’ comments about the Boards’ relationship with the CEO, the comments ring very true, and if so, there is a breach of Directors’ Duty. They should resign.

Ms Power’s time at PVCH was very short lived.

PVCH Board consisted of experienced professionals united by courage and integrity with a sound understanding of Directors’ Duties and Corporate Law, and expertise in Corporate Governance.

To my certain knowledge, the true events at PVCH were omitted from Ms Power’s application (to Lyndoch Living) and in the reference checks submitted by the recruitment agent. This too needs to be investigated.

The same search agent was involved when PVCH recruited Ms Power from Seymour.

This was before I became chair of the PVCH, but to my certain knowledge the true events of what happened at Seymour were also not presented to the selection panel.

Members hold board members accountable and Lyndoch’s exclusion of general members means there is no recourse or method of accountability unless the regulator steps in and appoints an administrator.

In this case, it’s urgent.

Companies Limited By Guarantee take millions in Federal and State funding and must be held to account.

Sadly, I understand from experience that there will likely be quite protracted and expensive proceedings ensuing, and my thoughts are with the present and past staff and the residents and families of Lyndoch Living and the people of Warrnambool.”