Feltex judge’s retirement delayed as new supporters emerge

Tue, 14 Jul 2020

Feltex Carpets investors are seeking more time and have new supporters guaranteeing funding for their court case against the company’s former directors and promoters.At the same time, the judge who has been overseeing the case for seven years has had his retirement delayed by a year. Investors in the carpet marker launched a case in 2008 over Feltex Carpets’ 2004 prospectus. While they won in 2018 when the Supreme Court said the prospectus had an untrue statement, the investors are yet to prove they relied on it and what they&...

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