Ann: Class Action Settlement, page-8

Maybe I shouldn't have jumped to conclusions - though it'll take a bit to change the upbeat assessment...

There has been 3 CA's against CCV.

- The first (NSW) was settled outside of court for $23M

- The second (QLD) settled outside of court for $16.4M

- The third CCV are vigorously defending....

Why defend the third, if CCV were not extremely confident of a positive outcome? Seems they were up against the wall for the first two, hence the settlement outside of court, why choose to defend this one? Also my assessment above, even if you consider $0 in cash (i.e. paying out a further $50M) has CCV with $150M in receivables and $50M in secularisation and EPS of 4.5c - still on FA with the errors of previous management out of the way IMO it looks as though it will be a good investment.