If that the case bets on that SML will pull through ?
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@balance Pretty sure it was litigation funded and was a creditor of Manziel action?
The liquidator of Mainzeal took the case against the directors and won. It was 100% not litigation funded.
https://norlinglaw.co.nz/reckless-di...ay-36-million/
Litigation funded cases in NZ are few and far in between.
Feltex was one and the case funded by litigants lost. Unfairly imo but that’s how the cookie crumbled. 3 QCs and an army of lawyers represented the defendants - that’s how much the insurance companies and defenders threw at the case.
The class action against A2M is pending the outcome of a similar class action in Australia.
I don’t know of any others.
There are certainly some professionals and experienced investors contributing on this site - posters have to watch out for who they are and what are their motivations!
Most contribute to share their knowledge and experience. And we should be thankful for that.
A few do so to take advantage of the newbies so be careful you do not become a sheep to the slaughter!
manziel funded by LPF: “In late 2014, the Mainzeal liquidators, on behalf of the creditors, approached LPF for funding to assist in taking legal action against the directors.”
https://www.lpfgroup.co.nz/post/main...-s-perspective
You mean this article?
https://www.nbr.co.nz/investment/pen...ays-a2-letter/
I don’t have a subscription so cannot elaborate any further.
This one
https://www.linkedin.com/posts/natio...16119296-G6B2/
Ouch very messy