Feltex case funder escapes liquidation – for now

Tony Gavigan's Joint Action Funding is still standing (Image: Getty)

Fri, 08 Jul 2022

The company formed to fund the Feltex shareholder class action has evaded liquidation after a judge today said he needed more time to read legal authorities relating to its defence.Joint Action Funding, along with Harbour Litigation Funding, had bankrolled the long-running case brought by shareholders against the company’s directors and promoters after Feltex collapsed.They had succeeded at stage one, but the claimants couldn’t fund stage two and the claim fell over.In February this year, Justice Francis Cooke said the $438,000 cost...

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