Insurance, costs issues arise in Feltex court saga

Sun, 29 Sep 2019

By Victoria Young Sept. 30 (BusinessDesk) - The complexities of administering class actions are coming to the fore in the Feltex litigation, as its lead plaintiff goes uninsured and security for costs remains unpaid. Eric Houghton’s $185 million claim on behalf of more than 3,000 Feltex Carpets investors is now at the valuation or quantum stage after the Supreme Court ruled last year the carpet-maker’s 2004 prospectus had an untrue statement and that could lead to liability under the Securities Act. Feltex collapsed less than two ye...

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