RELEASE TO AUSTRALIAN STOCK EXCHANGE (“ASX”)
TUESDAY, 05 AUGUST 2003
Debt Repayment
1. As part of the purchase by IMF (Australia) Ltd of all the issued capital in Insolvency Management Fund Pty Ltd (now known as Insolvency Litigation Fund Pty Ltd), in October 2001, an amount of $3 million remained payable to Expectation Pty Ltd, by Insolvency Litigation Fund Pty Ltd.
2. IMF (Australia) Ltd is pleased to announce that its wholly owned subsidiary, Insolvency Litigation Fund Pty Ltd, has today made the final payment towards that outstanding amount and that the entire $3 million has now been paid to Expectation Pty Ltd.
3. From this point forward, all funds collected by Insolvency Litigation Fund Pty Ltd from the cases on hand as at October 2001 will remain the property of the company.
…………………..
Hugh McLernon
Managing Director
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