The share price of IMF Bentham Limited (ASX: IMF) will be on watch next week after the litigation funder provided an update about the Brisbane floods class action.
In previous announcements on 2 December 2019 and 13 December 2019, IMF Bentham has told the market about the judgement of the New South Wales Supreme Court in the Brisbane Floods class action which found the defendants liable in negligence to the group members.
The State of Queensland has already said it does not intend to appeal the decision.
But, IMF Bentham has announced that Queensland Bulk Water Supply Authority trading as Seqwater and Sunwater Limited, which are both Queensland State owned enterprises, have announced that they will lodge a notice of intention to appeal the decision.
IMF Bentham said that Seqwater and Sunwater have stated that they have not yet made a formal decision as to whether to proceed with an appeal and the filing of the notice is “protective” at this time.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.