TerryA,I'm afraid I cannot shed any further light on the matter....

TerryA,

I'm afraid I cannot shed any further light on the matter. It's still listed on the ACT Supreme Court list for 10/6/08:

Case # Name Date Time list
SC99/00075 DAVIS SAMUEL PTY LTD 10/06/2008 09:30 RS
SC99/00075 DAVIS SAMUEL PTY LTD 10/06/2008 10:00 CH

This is from the 2007 Annual Report:

"Constructive Trust Claim
Resolution of matters arising from 1998
In the period September to December 1998 management control of TNG was held by interests associated
with Davis Samuel Pty Ltd (Davis Samuel). The Davis Samuel nominee Directors committed TNG to a series of
transactions involving expenditure totalling $1,526,000. The Australian Securities Exchange Ltd (ASX) ruled that the
transactions required shareholder approval. Shareholders subsequently voted against approving the transactions.
In December 1998, TNG entered into a settlement agreement with Davis Samuel and its Directors which effectively
provided for the repayment of the funds expended, and TNG would in turn transfer its shares and options in
Kanowna Lights Limited (the Kanowna Securities) to Davis Samuel.
The Commonwealth of Australia (the Commonwealth) in proceedings in the Supreme Court of the Australian Capital
Territory claimed that it was entitled to a constructive trust over the Kanowna Securities and obtained an injunction
preventing TNG from selling or otherwise disposing of them. The Commonwealth has claimed that as constructive
trustee, the Commonwealth claims TNG is liable to account for the market value of the shares at the time they were
acquired. The Commonwealth gave an undertaking as to damages.
Subsequently, in September 1999, Davis Samuel purported to rescind the December 1998 Settlement Agreement.
The Commonwealth is on notice that if TNG suffers damages as a result of the Commonwealth’s injunction, and
the Commonwealth ultimately fails to prove its constructive trust claim, TNG will claim the damages from the
Commonwealth.
Legal action against Davis Samuel
TNG, as a party to the proceedings instituted by the Commonwealth, issued cross-claims against Davis Samuel and
several other parties including Messrs Allan Endresz, Peter Cain, William Forge, David Muir and Peter Clark."


Based on that, we are not only claiming damages against the Commonwealth , but also making cross-claims against those other parties listed above (I assume they would be for the recovery of the total $1.5 million).

The same note has been present in all annual reports dating back to 2003 (when TNG was Hallmark), and the 2003 note shed a little more light:

"Legal action against Davis Samuel
Hallmark, as a party to the proceedings instituted by the Commonwealth, has now issued cross-claims against Davis Samuel and several other parties including Messrs Allan Endresz, Peter Cain, William Forge, David Muir and Peter Clark.
In July 2001 Messrs William Forge, David Muir and Peter Clark were charged in relation to offences under the Corporations Law of Western Australia relating to the October 1998 transactions, pursuant to which Hallmark expended $1,526,000.
If successful prosecutions are achieved, Hallmark will seek an order making the above parties personally liable for the recovery of the Hallmark losses."