What's at stake: Settled legal action against failed insurer CBL and its directors means payouts to shareholders are imminent, but competing class actions will receive different amounts.
Background: CBL collapsed in February 2018 with losses for shareholders of $747 million. Class actions were brought by two groups of CBL shareholders against the directors.
Main players: CBL, directors Peter Harris, Alistair Hutchison, Tony Hannon, Ian Marsh, Norman Donaldson, Sir John Wells, CFO Carden Mulholland, Harbour Asset Management, investor Basil Livingstone, LPF Group, Omni Bridgeway, Meredith Connell, Glaister Ennor.
With cheques shortly to be mailed out after successful legal action against failed insurer CBL and its directors, legal costs and funding fees are having a significant effect on how much shareholders of competing class actions will receive.
NBR understands shareholders have now been given details of
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What's at stake: Settled legal action against failed insurer CBL and its directors means payouts to shareholders are imminent, but competing class actions will receive different amounts.
Background: CBL collapsed in February 2018 with losses for shareholders of $747 million. Class actions were brought by two groups of CBL shareholders against the directors.
Main players: CBL, directors Peter Harris, Alistair Hutchison, Tony Hannon, Ian Marsh, Norman Donaldson, Sir John Wells, CFO Carden Mulholland, Harbour Asset Management, investor Basil Livingstone, LPF Group, Omni Bridgeway, Meredith Connell, Glaister Ennor.
