Litigation update

Invion Limited (ASX: IVX) provides the following update to Shareholders regarding legal proceedings commenced in February 2012, against former officers of the Company:

The Company has presently withdrawn its bankruptcy notices against the Defendants, however it has reserved its rights to re-lodge the bankruptcy notices at a date subsequent to the Supreme Court trial, which is due to commence on 5 May 2014.

The Board remains of the view that the Defendants are required to pay the sum of approximately $67,000 for the costs of the interlocutory matters, pursuant to final orders received from the Supreme Court of Queensland and the Court of Appeal on 17 February 2014.

Posted in ASX Releases