Brief: Global Investments updates on litigation against Babcock & Brown Global Investments Management
01/04/2016 12:01
April 1 (Reuters) - Global Investments Ltd GLNV.SI :
* Says obtained default judgment against bbgim for failing to enter appearance("judgment") in the proceeding
* Proceeding against the other defendants (Julian blackley, emma yim, dominic millgate and brad hopwood) is ongoing
* Company will not be proceeding against peter hocking, Mark Juan and tim ellem
* Says assessment of damages will occur at the same time as the trial of the proceeding against the remaining defendants
* Says litigation is not expected to have any significant impact on financial performance of company for financial year ending 31 December 2016
* Refers to co's proceedings in supreme court of Victoria, Australia against babcock & brown Global Investments management pty ltd
* Source text for Eikon ID:nSNZFHRCl
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