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BW&P defends class action against Company Directors

In a trial that took place in May to July this year, the litigation team led by Sue Phillips, successfully acted on behalf of three directors of subsidiaries of Timbercorp Ltd who were sued in a class action arising out of the failure of managed investment schemes.

Sue Phillips and her team successfully proved to the court that the directors had competently managed the company and put sufficient information into the product disclosure statements to ensure they complied with the Corporations Act.

This is viewed as a substantial win for company director confidence, especially those of liquated companies, as they now have a more secure platform for defending themselves against class actions.

The complex trial was completed in a shorter time frame than anticipated and the litigation team were praised by Justice Judd for the 'high degree of cooperation' and 'industry of counsel and solicitors in the preparation of the case for trial'.

We acknowledge the key members of the litigation team Sue Phillips, Ninwe Younan, Jane Kupsch, Claire Centra, Katherine Hayes and Jessica Briscoe for their outstanding efforts.