• Colour Capital wins $20m judgement against Netdeen
• Netdeen appeals the judgement, hearing set for May 2025
• Colour Capital and Wattle Court focus on franchise network growth

Teaminvest Private Group Limited (ASX:TIP) has provided an update on the legal proceedings by its subsidiary Colour Capital Pty Ltd against Netdeen Pty Ltd, the franchisor of the G.J. Gardner Homes franchise. On 17 October 2024, judgement was handed down in favour of Colour Capital, with Netdeen ordered to pay a $20m judgement and costs. However, the company has now been informed that Netdeen has appealed the judgement, with the appeal hearing set for 7 May 2025. Teaminvest has stated that it does not intend to recognise a gain on the proceedings until final payment has been received. The announcement also provides an operational update on Colour Capital and Wattle Court Pty Ltd, another subsidiary of Teaminvest. Since the judgement, the companies have focused on driving material growth in their franchise networks to replace the former G.J. Gardner Homes revenue. Wattle Court now has three franchised builders operating in NSW and Queensland, while Gold's Gym, a subsidiary of Colour Capital, continues to field strong enquiry for new franchisees. To further accelerate this growth, Teaminvest has agreed to extend a senior secured loan of up to $0.5m to Wattle Court, supported by a matching loan from Wattle Court management of up to $1m, providing a total of $1.5m in growth capital.