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Freehills to question New Tel duo

Freehills to question New Tel duo

FREEHILLS HAS been given the go-ahead by the Federal Court to publicly question a business duo who are attempting to sue the firm for $60 million over the collapse of telecommunications group…

FREEHILLS HAS been given the go-ahead by the Federal Court to publicly question a business duo who are attempting to sue the firm for $60 million over the collapse of telecommunications group New Tel in 2002.

Freehills will question Andrew and Barry Waller, who held shares in New Tel when it collapsed and were the major shareholders of listed telecommunications company Cable & Telecom when it was taken over by New Tel in 2001.

The Wallers, meanwhile, plan to question Freehills partner Paul Evans and former Freehills partner David Woolfe, along with former New Tel managing director Peter Malone. They are seeking evidence for a claim against Freehills arising from their decision to accept New Tel’s takeover offer, based on advice from Freehills.

Under the Corporations Act, liquidators and other interested parties are permitted to conduct public examinations related to failed companies.

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