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Melbourne-based clean energy company Ceramic Fuel Cells Limited [ASX/AIM: CFU], a global leader in fuel cell development, today announced it has entered into an agreement with ASXlisted litigation funding company IMF (Australia) Limited to recover lost investment funds.
Ceramic Fuel Cells is taking legal action against various parties to recover losses suffered when Ceramic Fuel Cells’ funds were invested in a range of structured financial products.
Under the funding agreement, IMF (Australia) Limited will pay the costs of Ceramic Fuel Cells’ legal action, including all legal fees, in return for a success fee. Ceramic Fuel Cells is being advised by the law firm DLA Phillips Fox.
The claim is expected to be for about $25 million.
For further information please contact:
Ceramic Fuel Cells
Andrew Neilson
Tel: +61 419 950 771
Australia Media enquiries:
Richard Allen
Oxygen Financial Public Relations
Ph: 03 9915 6341 or 0403 493 049
About Ceramic Fuel Cells Limited:
Ceramic Fuel Cells Limited is a world leader in developing solid oxide fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas and renewable fuels. The company is developing such products for micro combined heat and power and distributed generation units that generate electricity and heat for homes. Ceramic Fuel Cells is developing micro combined heat and power products with leading appliance partners and utility customers in Germany, France, the United Kingdom and Japan. The company is listed on the London Stock Exchange’s AIM market and the Australian Securities Exchange (code CFU).
www.cfcl.com.au |
