BoQ facing litigation by bank franchisees
Publicly listed litigation funder IMF Australia has announced it will be backing claims by Bank of Queensland (BoQ) franchisees against the banking group, currently being heard in the NSW Supreme Court.
IMF Australia announced to the Australian Securities Exchange today that it had agreed to fund the claims that arose out of representation allegedly made by BoQ concerning the viability of the bank’s franchise model – including expected business volume and revenue levels.
IMF Australia said that the proceedings had already begun in the NSW Supreme Court, and would now be funded by IMF along with further proceedings expected to be start in the near future.
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Mike Taylor
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