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Update to LCM v Rabah Enterprises - the purchased case from a...

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PabloB

124 Posts.

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29/06/23

18:48

Post #: 68540579
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Originally posted by PabloB: ↑

1. Big win for LCM!
A purchased case from a liquidator.
LCM share 85% of $14.8m (remaining 15% to liquidator) + costs + interest
It's unclear if direct or 3PTY (2020 case is borderline).
www8.austlii.edu.au/cgi-bin/sign.cgi/au/cases/nsw/NSWSC/2023/590
2. PFAS settlement likely next FY.
www.comcourts.gov.au/file/Federal/P/NSD431/2020/3887497/event/31432939/document/2114380

3. Interesting on the google case, it didn't fail because google was not in the wrong but because not representative - i.e. "it did not meet the bar for bringing a representative action, which requires the claim to be based on general circumstances that apply to the entire class rather than on individual circumstances, finding therefore that the claim would be bound to fail".
Hopefully the early loss means minimal costs.

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Update to LCM v Rabah Enterprises - the purchased case from a liquidator.
Interest now added bringing total sum up to $20.2m
www8.austlii.edu.au/cgi-bin/sign.cgi/au/cases/nsw/NSWSC/2023/722

LCM share is 85% (remaining 15% to liquidator).
It's unclear if direct or 3PTY - no announcement as yet.
No announcement on the $33m from PFAS either.

LCA Price at posting: 91.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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