Supreme Court Orders Transurban Group to Compensate ConnectEast Over 'Unjust' Fees

MT Newswires Live12-19

The Supreme Court of Victoria ordered Transurban Group (ASX:TCL) to compensate ConnectEast for allegedly imposing "unjust" fees on the Eastlink owner in a tolling services arrangement with Transurban, according to a Thursday filing with the Australian bourse.

The judgment is subject to a court-imposed confidentiality regime and covers sample years 2015, 2017, 2019, and 2020, the filing said. ConnectEast started the litigation in 2020.

The statement of claim refers to a fee amounting to AU$10 million per year for each year since 2009.

Transurban said the matter does not impact customer payments, adding that it is reviewing its legal options, including an appeal. The board will also assess the appropriate provision in its first quarter results.

The company reaffirmed its fiscal 2025 distribution guidance of AU$0.65 per security.

Price (AUD): $13.38, Change: $-0.06, Percent Change: -0.48%

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