| Coplex Resources NL |
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| Date of Funding: | 6 Nov 2003 |
| Plaintiff: | The liquidator, Coplex Resources NL (in liquidation) |
| Defendant: | Humpries, Lockwood & Others |
| Court: | Federal Court (WA) |
| Cause of Action: | The liquidator of Coplex is suing a previous administrator of the company for damages in relation to the negligent manner in which that administrator undertook his administrative duties. At the time of the administration Coplex owned controlling interests in two listed Canadian oil and gas companies Naftex Limited and Petrolex Limited. The previous administrator of Coplex transferred those two controlling interests to the major creditor of the company by way of payment of that creditor's debt. The claim alleges that the shares in the two Canadian companies were sold at a gross undervalue. |
| Result: | The case settled in February 2008. IMF expects to receive about $1.6m on an investment of about $0.8m and capitalised costs of $0.3m. |
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