Bob Jane withdraws claim against AVESCO, CAMS and all Directors
13/4/2005 22:31 (Press Release) -
Bob Jane's companies, Calder Park Raceway Pty Limited and Calder Park Racing Promotions Pty Limited, have discontinued Federal Court proceedings against CAMS and AVESCO following applications by CAMS and AVESCO to strike out the Calder Park claims.
The Calder Park companies commenced proceedings against CAMS, AVESCO and their directors in March this year, attacking the way in which CAMS regulates motor sport.
CAMS and AVESCO immediately described the proceedings as baseless and totally without claim, applying to strike out the Calder Park claims.
At the first directions hearing, the Federal Court ordered Calder Park to file evidence in support of the claims. Instead of complying with this order, Calder Park has discontinued the proceedings.
AVESCO Chairman Tony Cochrane said today - "I am not surprised the proceedings have been discontinued. The claims made in the proceedings were outrageous and could never be supported.
“This is the second time AVESCO has seen off a baseless claim by Bob Jane's companies. It is sad that Bob brings these claims but at least this time he threw in the towel early, before everyone wasted more money on legal costs.
“Last time this happened and having lost the case, the Calder Park Company was placed into receivership and to date AVESCO has still to receive the outstanding $280,000 it is owed – this was and remains a disgraceful situation.”
AVESCO has instructed its solicitors to take immediate steps to recover its costs and the costs incurred by its Directors.
Release Date: 08/04/2005
AVESCO
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