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
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