Octaviar faces class proceedings
Struggling Queensland-based financial group Octaviar is now facing possible class proceedings from former and current shareholders as it continues to battle winding up orders and demands from creditors.
In an announcement to the Australian Securities Exchange, Octaviar revealed it had received correspondence from Maurice Blackburn Lawyers stating that the claims of their clients total $80 million.
The law firm advised Octaviar that this amount may increase if more shareholders seek to participate.
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