The claim arises out of the cancellation of 100% of the interests in the two cattle projects in return for shares in Great Southern Ltd.
Current stage of case
Proceedings have commenced. Defences have been filed. Separate proceedings commenced in Supreme Court of NSW in interests of IMF clients to claim priority to certain insurance proceeds; claim for priority to insurance proceeds unsuccessful. Conditional settlement announced on 10 March 2014.
- Supreme Court of New South Wales
- Members of the Great Southern Cattle Projects.
- Companies (as responsible entities) within the Great Southern Group and various directors.