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IPT in the money

ELECTRONIC transactions provider IPT systems has received more than $800,000 that had been held in trust by law firm Steinepreis Paganin.

The refund of the money followed a Supreme Court decision last week that confirmed IPT had validly terminated a transaction with former director Vladimir “Roger” Nikolaenko and associated companies. The transaction was pursuant to IPT’s decision, under the control of its former board, to spin off its mining assets.

Steinepreis Paganin were ordered to pay to IPT the sum of $800,000 together with all accrued interest on that sum. Last week, IPT received $846,343.08 from the law firm, and a further $1,043.40 in interest is due to be received at the end of this month.

IPT will apply to the court for special costs orders from Quadrant Management Pty Ltd, Plato Mining Pty Ltd and Mr Nikolaenko, after these parties were ordered to pay IPT’s costs of the action.

IPT’s solicitors are preparing a Bill of Costs, believed to be about $150,000, with a view to also obtaining recovery of legal costs from Quadrant Management Pty Ltd, Plato Mining Pty Ltd and Mr Roger Nikolaenko as soon as possible.

COS – it’s a good move

THREE of Perth’s universities have joined the international Community of Science, a major international research funding network.

The University of Western Australia, Curtin University of Technology and Edith Cowan University believe that becoming part of the COS will lead to greater promotion of funding opportunities, and improved management of research expertise.

The COS holds a major database of international research funding opportunities across all higher education disciplines.

The database is used by universities and organisations that fund research to identify potential collaborators or research expertise.

The Australian Research Council, for example, recently became a COS member.

The COS database also includes opportunities for collaborative activities, travel, curriculum development, conferences, fellowships, postdoctoral positions, equipment acquisition and consultancies.

It can be used to identify research interests of colleagues both within Australia and around the world.

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