Humm Group, Credit Corp Named as Defendants in High Court Proceedings by Former Chair

MT Newswires Live05-07

Humm Group (ASX:HUM) and Credit Corp Group (ASX:CCP) were named as two of the defendants in proceedings filed in the High Court of Australia on Wednesday, consisting of an application for constitutional writs and an interlocutory application, by Andrew Abercrombie, founder and former Chair of the firm, and The Abercrombie Group as trustee for the Philadelphia Trust, according to a Thursday Australian bourse filing.

The other defendants are the Takeovers Panel, the Australian Securities and Investments Commission, Akat Investments, Jeremy Michael Kersten Raper, and Sandhurst Trustees as custodian for Collins St Value Fund.

By the application for constitutional writs, the plaintiffs seek writs of certiorari to quash the declaration of unacceptable circumstances made by the Takeovers Panel on April 17 April and the orders made by the

Panel on April 24. The plaintiffs also seek declarations that the declaration and the orders are invalid.

By the interlocutory application, the plaintiffs seek orders that the extraordinary general meeting of Humm convened by Raper and Sandhurst Trustees, which was to be resumed on May 13, be further adjourned.

Abercrombie and his associates currently own 29.55% Humm's issued shares.

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