You have 0 free articles left this month.

Lawyers Weekly - legal news for Australian lawyers

Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
Big Law

Class action over Firepower imminent

Legal action will be launched against key players in the failed fuel-technology company Firepower, and court action is expected to start by the end of the month.

May 04, 2009 By The New Lawyer
expand image

Legal action will be launched against key players in the failed fuel-technology company Firepower, and court action is expected to start by the end of the month. 

Advisers who convinced ‘mum and dad’ investors to put $100 million into the company will be targets, News.com reports. 

Litigation specialist Hugh McLernon, whose company IMF has been retained by 500 small investors in the case, said he would focus on the private companies of millionaire businessman Warren Anderson, lawyer Les Stein and former police minister Gordon Hill. 

“We have given a brief to senior counsel in Sydney,” IMF manager Paul Rainford said. 

More than a third of investors in businessman Tim Johnston’s failed business have signed up to be part of the class action.



Tags
You need to be a member to post comments. Become a member today
Got a tip for us?
If you have any news tips or stories to share, feel free to send them our way.
Momentum Media Logo
Most Innovative Company