Law firm Slater & Gordon has contacted more than 100 former Sonray clients offering them a ‘no win, no fees’ opportunity to pursue legal action against collapsed financial services business Sonray Capital Markets.
The firm has given the clients until the end of the month to register their interest in pursuing the legal action, which would be headed by the lawyer David Andrews, who conducted the Opes Prime class action.
Andrews said Slater & Gordon had undertaken significant investigations into Sonray and “the deeper we dig, the worse it looks”.
“The Sonray operation was a debacle,” Andrews said. “Sonray was an accident waiting to happen.”
He said the law firm’s investigations were focused on Sonray’s directors, advisers and service providers as well as its insurers, auditors, investment banks and others who recommended Sonray’s products and services.
“Sonray’s business arrangements and investment services were extremely complex and our investigations may give rise to a variety of different legal claims against a number of parties,” he said.
