LEGAL CLAIMS During the year, the Company continued defending three claims brought against it in respect of historical projects the Company was involved with. The Company is currently defending two claims. The Company is complying with the respective court timetables, is legally represented, and is vigorously defending each claim. Potential contingent liability in relation to these claims is disclosed at note 23. The third claim has not progressed or had any further evidence lodged by the plaintiffs since the prior year.
23. CONTINGENCIES During the year, the Company continued defending three claims brought against it in respect of historical projects the Company was involved with. The Company is currently defending two claims. The Company is complying with the respective court timetables, is legally represented, and is vigorously defending each claim. The potential exposure on ANNUAL REPORT 30 JUNE 2018 these two claims is estimated to be between $66,500 to $302,000. The third claim has not progressed or had any further evidence lodged by the plaintiffs since the prior year.
Obviously want the $66,500 - $302,000 to stay with NZC but seems like a non-event really if exposure is limited to that amount?... Or is there something I am missing?
NZC Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held