Upcoming Court case16 May 2021 17:46
The upcoming court case on May 26th
Feb 21st -CLP This is Money
Progress in legal disputes was behind sharp share price rises for Clear Leisure this week.
4.2p
Investment company Clear Leisure, which has a penchant for investing in companies where court-led recoveries of misappropriated assets is a possibility, has seen its shares virtually double in February after a business update that read more like a court circular.
The company's €1.03million legal claim against the previous management of Sosushi, an Italian company it bought from the receivers, is now proceeding through an “arbitration process” following a green light from the Bologna Court.
Elsewhere in Italy, Clear Leisure has won the bidding to acquire the rights of a potential claim against former directors of Mediapolis, another dormant subsidiary of the company, and members of Mediapolis's internal audit committee. Clear Leisure paid €50,000 to acquire the rights to the claim and although Clear Leisure's legal team is still assessing the value of the claim, the receiver had originally estimated that the value of the claim might be above €20mln.
Could there be an out-of-court settlement?
Any positive news and our fledgling friend will rocket..