| Concept Equity Pty Ltd |
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| Date of Funding: | 6 Apr 2005 |
| Plaintiff: | Concept Equity Pty Ltd |
| Defendant: | Challenger International Ltd |
| Court: | Supreme Court of New South Wales |
| Cause of Action: | Breach of an agreement between Concept and Challenger entered into in 1997 whereby Challenger agreed it would pay Concept a fee should Concept introduce an acquisition opportunity to Challenger and the acquisition subsequently occur. Concept introduced APG to Challenger and Challenger subsequently acquired APG. Challenger is refusing to pay Concept its fee which Challenger denies is owing. |
| Estimated Completion: | Nov 2008 |
| Important Date(s): | | 23-Mar-2005 : | Proceedings commenced in New South Wales Supreme Court by Challenger for declarations (Concept Equity's case is by way of cross claim) | | 21-Jul-2008 : | Trial date | | 07-Aug-2008 : | Judgment in favour of Concept Equity | | 06-Jul-2009 : | Court of Appeal hearing | | 07-Aug-2009 : | Judgment of Court of Appeal. Appeal allowed | | 03-Sep-2009 : | Application for special leave filed | | 12-Feb-2010 : | Special leave application has been fixed for Friday, 12 February 2010 at 9:30am | | |
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| Current Stage: | Judgment of Court Appeal delivered on 7 August 2009 which allowed Challenger's appeal. Concept has filed an application for special leave to appeal to the High Court of Australia. The special leave application is likely to be heard in February 2010. On 12 February 2010 the High Court refused Concept leave to appeal to the High Court. |
| | Last Updated: 24/02/2010 |
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