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New Hope Provides Colton Project Update

23 Mar 2021  |  10:34:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Colton Project Update

New Hope provided colton project update. The Company has previously announced that the Liquidators appointed to NEC and Colton have been investigating whether potential claims exist against the Company or former directors and officers of NEC and Colton. There are press reports that the Liquidators of NEC and Colton intend to commence proceedings against the Company and certain former directors and officers of NEC and Colton in connection with alleged voidable transaction, insolvent trading, asset transfers and breaches of directors duties, in respect of claims the Liquidators estimate to be valued at $174.1m plus interest and costs.

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