IMF agrees to fund Westpoint investors' litigation

IMF (Australia) Ltd has today announced that it will fund national law firm Slater and Gordon to assist in an ongoing investigation of the various "mezzanine" schemes promoted by Westpoint Corporation Pty Ltd.

IMF would also look at funding litigation by investors against the financial planners who recommended investment in those schemes.

IMF expects to fund litigation against 75 - 100 financial planners on behalf of about 2000 investors, seeking approximately $200 million.