CORUM Group Limited, publicly listed on the Australian Securities Exchange as COO, this morning confirmed the receipt of a payment of $8,128,486.63 from Fred IT Group Pty Ltd.
The amount represents the judgement sum in the long-running Victorian Supreme Court proceedings between COO offshoots Corum Systems and PharmX and Fred IT Group (PD 27 Apr) with the figure including $1.6 million in interest and another $1.5 million in agreed costs.
The proceedings were initiated in May 2021 with COO claiming FredIT had received distributions from PharmX between 2014 and 2019 to which it was not entitled.
Corum also advised that it has now been served with papers confirming Fred IT had launched appeal proceedings in respect of the judgements.
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