| Centro |
 |
| Date of Funding: | 26 Mar 2008 |
| Plaintiff: | Richard Kirby is the representative in both proceedings |
| Defendant: | There are 2 proceedings funded by IMF. One is by stapled security holders against Centro Retail Ltd and Centro MCS Manager Ltd and the other is by stapled security holders against Centro Properties Ltd and CPT Manager Ltd |
| Court: | Federal Court (Victoria) |
| Cause of Action: | The causes of action relate to alleged failures to disclose material information and misleading and deceptive conduct concerning Centro's debt position, in the period 7 August 2007 to 15 February 2008 (in relation to the proceedings against Centro Retail Ltd) and the period 9 August 2007 to 15 February 2008 (in relation to the proceedings against Centro Properties Ltd). |
| Estimated Completion: | March 2011 |
| Important Date(s): | | 05-Mar-2009 : | Application to the Court for orders that the Respondents (Centro) make their insurance policies and discovered documents available to the applicant. Court's decision reserved. | | 22-May-2009 : | Respondents must apply to the Court by this date if they want the Court's leave to make a cross-claim against their auditors, PriceWaterhouseCoopers ('PWC'), or any other third party. | | 29-May-2009 : | The Respondents file a cross claim against PWC | | 26-Jun-2009 : | The Court decides not to grant the Applicants access to the Respondents insurance policies. IMF is granted access to confidential discovered documents on signing an undertaking. | | 16-Jul-2009 : | Mediation in Melbourne with the Hon G E (Tony) Fitzgerald QC as mediator fails to result in a resolution of the claims. | | |
|
| Current Stage: | The proceedings in the Federal Court are continuing. The parties may agree to resume the mediation at a date to be decided in the future.
The class for the IMF-funded proceedings closed on 17 December 2008 in accordance with the orders redefining the class in the Kirby proceedings made by the Court on that day. |
| | Last Updated: 22/07/2009 |
| |
