NFK 0.00% 47.5¢ norfolk group limited

Ann: Market and Operational Update , page-8

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  1. 1,561 Posts.
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    This is the disclosure from the prospectus, although, I don't understand why litigation would be an impairment.

    O’Donnell Griffi n Pty Limited
    (ACN 003 905 093) (“ODG”) has entered into
    four subcontracts or sub-subcontracts relating
    to its participation in the Perth Southern
    Suburbs Railway Project. Formal dispute
    resolution clauses have been invoked under
    two of these contracts, one counterparty has
    made an application for adjudication under
    the Construction Contracts Act 2004 (WA)
    in respect of variations and “show cause”
    notices have been issued by one party and
    responded to by ODG. It is expected that
    there will be litigation relating to some or all
    of these contracts, but it is not yet possible
    to form a view at this stage as to any liability
    which ODG may have to any counterparties.
 
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Currently unlisted public company.

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