Hillcrest to fund G Southern litigation

Local listed company Hillcrest Litigation Services will fund the continued investigation of the finance arm of collapsed agribusiness Great Southern.

Under an agreement announced today, Hillcrest will supply liquidator Ferrier Hodgson with the funds to complete its investigation into Great Southern Finance and pursue any recovery actions in court.

Hillcrest told WA Business News that until now, Ferrier Hodgson had been self-funding its litigation costs.

Great Southern collapsed in May 2009 owing over 40,000 investors over $3 billion.