|
|
|
|
|
|
|
|
|
|
|
|
|
McGrathNicol > administrations > pan pharmaceuticals > potential class action
|
|
|
|
|
corporate advisory
McGrathNicol
Corporate Advisory is a leading advisory practice providing capital
restructuring, cash management, turnaround execution, distressed M&A,
lender advisory services, business valuations, government advisory services and
insurance advisory.
forensic
McGrathNicol Forensic provides legal firms, businesses and the
government sector with a range of Forensic accounting services; dispute
advisory, forensic technology, investigation and fraud risk management.
transaction
services
McGrathNicol Transaction Services provides a complete range of services;
acquisition due diligence, sell side assistance and pre sale due diligence,
pre-lending due diligence, deal and negotiation support, forecast assessment
and evaluation, transaction project management and post deal integration.
corporate
recovery
McGrathNicol Corporate Recovery is a market leader
with extensive experience in providing voluntary administrations and deeds of
company arrangement, receiverships, creditors voluntary liquidations, members
voluntary liquidations and court liquidations.
|
|
|
Potential
Class Action
There
have been a number of reports in the media recently concerning a potential
class action by creditors and/or shareholders of Pan following an out of court
settlement of Jim Selim’s proceedings against the
Commonwealth of Australia.
The Liquidators have now been advised by IMF (Australia) Limited
(“IMF”) that it is proposing to fund a class action against the
Commonwealth and others for losses from alleged misfeasance in public office in
relation to the collapse of Pan during 2003. In this regard, the Liquidators have
agreed to provide a circular from IMF for information purposes only. A copy of the circular may be viewed by
clicking on this link.
The Liquidators are not endorsing the proposal and are not otherwise
commenting on nor involved in the proposal. It will be up to individual creditors
and shareholders to obtain their own advice and form their own view about any
proposed action.
|
|
|
|
|
|
|
|
|
|
|
Chris
Drummond
t: +61 2 9338 2649
e:
cdrummond@mcgrathnicol.com
o: Sydney
|
|
|
|
|
|
|
|