|
|
Article: AUST FUND MNGR PERPETUAL MAY SEE MORE COURT ACTION AFTER UK DECISION.
- Article from:
- AsiaPulse News
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MELBOURNE, Nov 9 Asia Pulse - Australian fund manager Perpetual Ltd (ASX:PPT) says it may face further court action after its opponents moved to appeal a recent UK court decision that could ultimately affect billions of dollars.
Perpetual Trustee Company Ltd won a Court of Appeal decision in London on Friday (local time) that sought A$125 million (US$115.42 million) frozen from Mahogany Capital noteholders since the collapse of Lehman Brothers financial-services firm last year.
The decision could act as a precedent to eventually unlock up to A$12.5 billion.
Perpetual, wholly owned by the Australian-listed Perpetual Ltd, took the court action ...