June 18, 2015
We’re currently involved in the Willmott Forests class action in the Federal Court of Australia, which is also being run against Commonwealth Bank and MIS Funding.
This morning, at the directions hearing in Melbourne, we strengthened our roots and stood our ground, successfully raising our objections to what appears to be a terrible proposed settlement that would, in our view, solidify a great deal of detriment for most investors. Around 17 other objections were raised by other class members, and further directions made by the Court for the progress of the settlement approval application.
We will continue fighting and will hopefully prevail. Stay tuned…