Bravura execs closer to regaining shares
The chief executive and managing director of Bravura Solutions, Iain Dunstan and Simon Woodfull, have moved a step closer to clarifying and regaining control of key Bravura shareholdings tied up as a result of last year’s collapse of Lift Capital.
Bravura announced to the Australian Securities Exchange that the NSW Supreme Court had delivered a judgement that found the interests of companies controlled by Dunstan and Woodfull in the Bravura shares had not been defeated or eliminated.
It said, accordingly, the two companies controlled by Dunstan and Woodfull retained beneficial title to all of their Bravura shares.
The company announcement said Dunstan and Woodfull had informed Bravura they were exploring all options in light of the judgement and their discussions with the liquidator of Lift Capital were continuing.
Dunstan and Woodfull have been seeking to establish their title to the shares in circumstances where the voluntary administrators of Lift Capital had filed an application in the NSW Supreme Court with respect to a parcel of around 30.5 per cent of Bravura shares held by Merrill Lynch as a secured creditor of Lift Capital.
AUTHOR
Mike Taylor
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
