| Truckies MPA by Various |
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| Date of Funding: | 8 Aug 2004 |
| Plaintiff: | Truckies (various) |
| Defendant: | Pilbara Manganese Pty Ltd |
| Court: | Supreme Court of Western Australia |
| Cause of Action: | The case is on behalf of six trucking haulage contractors against Pilbara Manganese Pty Ltd ("Pilbara"), a wholly owned subsidiary of the publicly listed company Consolidated Minerals Limited. The claims arise out of haulage contracts the truckies had with Pilbara to cart ore from the Woodie Woodie mine site owned by Pilbara to Port Hedland where it was then shipped overseas.
The truckies entered into haulage agreements with Pilbara in 2000 and 2001 for what were in effect at least four year contracts with promises of an unlimited amount of work. Many of the truckies purchased expensive equipment and moved to Port Hedland from interstate in reliance on the promises and representations made about the work.
The contracts were then terminated by Pilbara without any jusitification in 2002. A number of truckies were reinstated however the six being funded by IMF were not. Damages are claimed by the truckies for breach of contract, estoppel, and both misleading and deceptive conduct and unconscionable conduct under the Trade Practices Act. |
| Result: | The case settled in August 2007. IMF received approximately $1.4M on an investment of approximately $0.58M with capitalised costs of approximately $0.2M. |
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