FINWIRES · TerminalLIVE
FINWIRES

Humm Group Says Federal Court Awards Party-to-Party Costs of AU$3.3 Million in Proceedings Brought by SMBC Leasing

By

Humm Group (ASX:HUM) said the Federal Court of Australia awarded party‑to‑party costs of AU$3.25 million, which were paid in full on May 6, in the proceedings brought by SMBC Leasing and Finance against Humm and its wholly-owned unit, Flexirent Capital, according to a Tuesday Australian bourse filing.

The court on May 5 ordered that Flexirent and Humm pay SMBC AU$3.25 million as SMBC's costs of the proceedings fixed as a lump sum by the court.

The firm had paid SMBC damages and interest totalling AU$19.5 million on March 2. Humm increased its provision for this matter to AU$19.0 million, after the court judgment on Jan. 30. In March, the firm recognized a separate provision of AU$3 million for costs associated with the proceedings.

Related Articles

Asia

Adairs Shares Up 3% as Billionaire Brett Blundy Becomes Substantial Holder

Adairs' (ASX:ADH) shares rose over 3% in recent trading on Tuesday after it said in a filing late on Monday that billionaire Brett Blundy became a substantial holder of the firm.Brett Blundy, BBFIT Investments, and BBRC International, as trustee for The BB Family International Trust, acquired voting power of 5.1% as May 7. They hold 9.1 million of the firm's fully-paid ordinary shares.

$ASX:ADH
Asia

Qingyue Optoelectronics' CFO Resigns; Shares Dip 20%

Suzhou Qingyue Optoelectronics Technology's (SHA:688496) chief financial officer, Zhang Xiaobo, resigned due to personal reasons, according to a Shanghai bourse filing on Tuesday.Zhang will continue to serve in other positions within the new display device manufacturer.Chen Gang, the company's general manager, will temporarily perform the duties of the CFO until Zhang's successor is named.The company's shares slumped 20% during the afternoon trade.

$SHA:688496
Asia

Aurisco Pharmaceutical Obtains Registration Certificate for HIV Drug

Aurisco Pharmaceutical (SHA:605116) received a registration certificate from China's National Medical Products Administration for its dolutegravir sodium tablets, according to a Shanghai bourse filing on Tuesday.The drug is used for the treatment of human immunodeficiency virus (HIV) in combination with other antiretroviral drugs.The pharmaceutical company invested 14.2 million yuan in the drug's research and development.

$SHA:605116