Late yesterday and today, an announcement by liquidator Tony Woodings that the Bell Group litigation has finally settled, is being reported in the press. The case is said to be Australia’s longest and most expensive legal action, and has taken nearly two decades to resolve.
Mr Woodings’ statement noted that: “The sum for which the case has been settled has not been disclosed. It is subject to various approvals being obtained which are necessary for the settlement to be given effect.”
The High Court appeal had been due to be heard this month. Last week it came out that the case had been adjourned for six months and withdrawn from the High Court list pending the outcome of settlement negotiations. You can read my post discussing that and other details of the case here.