KEY POINTS:
The date for shareholders of failed carpetmaker Feltex to opt-in to a legal claim has been extended to around next Easter, from last Friday.
Shareholder organiser Tony Gavigan today said that so far 858 Feltex investors claiming over $45 million plus interest had indicated in writing they wished to join the claim.
The final form of notice and consent would be approved in February and would incorporate changes being made to the statement of claim. The new deadline would be finalised at that time, he said.
The claims filed by lawyers Wakefield Associates on behalf of the shareholder group are brought against Feltex ex-chairman Tim Saunders, former chief executives Peter Thomas and Sam Magill, Credit Suisse First Boston and others involved in the May 2004 Feltex float.
Mr Gavigan said that in October Justice French amended the original representation order, by deciding that to remain in the group holders must now opt in.
Some 191 cards mailed to all Feltex subscribers at their 2004 address had been returned with no address for the investor.
Feltex listed on the New Zealand stock exchange in 2004 at $1.70 a share.
In 2006 ANZ put Feltex into receivership, and it was then bought by Australian carpet maker Godfrey Hirst.
- NZPA
