SPC Global Launches Legal Proceedings Against Former Chairman

MT Newswires Live

Jul 07

SPC Global (ASX:SPG) has commenced proceedings in the County Court of Victoria against former Chairman Hussein Rifai and Thor Capital, alleging breaches of directors' duties and seeking recovery of funds linked to disputed historical expenditure and related-party arrangements, according to a Tuesday Australian bourse filing.

The company is seeking recovery of the claimed amounts, including interest and costs, while emphasizing that the allegations concern historical matters and do not involve any current board members or executives, the filing added.

The company's shares rose 2% in recent Tuesday trade.

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