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.
NFK Price at posting:
29.1¢ Sentiment: Hold Disclosure: Held