A minor shareholder in the collapsed Siac construction group has brought legal proceedings claiming its financial interest in a €15 million payout from Polish litigation was unjustly used to distribute dividends and pay off the loan notes of other stakeholders. Calcago Holdings Ltd has brought a High Court case against the liquidator of Siac Construction Ltd seeking a declaration that it has a ten per cent proprietary interest in the net proceeds of a series of Polish lawsuits arising from a dispute over a roads project that helped bring about the downfall of the company. The claim is being resisted…

Want to continue reading?

Join today with an Annual membership and get full access to The Currency for just €200 (68c per day) or try monthly membership for just €5 for your first month.

Subscribe

Cancel at any time.

Are you already a member? .