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…

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