BrisCon faces new test

Sydney Morning Herald

Tuesday September 15, 2009

Lucy Battersby

BRISCONNECTIONS has withdrawn a fifth statutory demand for unpaid instalment fees, as lawyers for a man with a $1 million debt question whether their client owes the company any money at all.Solicitors for BrisConnections agreed to set aside a statutory demand for Super Choice Now to pay $5.6 million in unpaid unit instalment fees, shortly before the matter was due to be heard in the Victorian Federal Court yesterday.However, BrisConnections may still try and obtain enforceable proceedings for the debt, according to lawyers acting for the company Karl Hill.Five out of 35 statutory demands have now been settled with BrisConnections paying legal costs, and there are 90 writs still outstanding.Lawyers for the unitholder Scott North-Coombes will today request a hearing set for this Friday to first answer a preliminary question of whether Mr North-Coombes has any debt at all.Alan Foster said his client may not owe any money according to the BrisConnections constitution and underwriting agreement, and is applying to put this question to Justice Ross Robson of the Victorian Supreme Court.BrisConnections is the consortium building the Airport Link road in Brisbane. It has been chasing unitholders who bought stapled units but did not pay the second instalment fee. Many bought the units when they were trading at 1 and claim they were unaware the units carried two $1 instalment fees.Lucy Battersby