SIV Capital Limited - Court judgement

Key points

• Favourable judgement handed down in Queensland Supreme Court
• Recovery action taken against former client
• Unable to recognise potential recovery due to client's liquidation

Full summary

SIV Capital Limited (ASX:SIV) has announced that a favourable judgement was handed down in the Queensland Supreme Court today in respect of one of its ongoing recovery actions. The company has previously made reference to its efforts to recover rental assets and unpaid rental income from former clients. While the court ruling was in SIV's favour, the company is currently unable to recognise any potential recovery, which would include unpaid rental income plus interest and costs, for accounting or cash flow purposes. This is due to the fact that the former client is in liquidation. The company has provided this update to the market as part of its ongoing efforts to address legacy issues and recover outstanding amounts.