Business Services Industry
ASIC wins 3-month One.Tel extension.
Australasian Business Intelligence, February, 2007
Byline: Vanda Carson
Feb 06, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- The Supreme Court of Australia case concerning the collapse of One.Tel has been adjourned again until the end of May 2007. This follows a 20-week break since evidence finished in September 2006, to allow lawyers to prepare summaries. The Australian Securities & Investments Commission is seeking orders of $A92m against former directors Jodee Rich and Mark Silbermann. It claims they knew the telco was insolvent months before it went into administration in May 2001. In granting the adjournment in the New South Wales Supreme Court on 6 February 2007, Justice Robert Austin said lawyers needed time to review lengthy testimony and prepare for oral submissions.
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