AusNet Services Ltd Settlement of the Mickleham Road Bushfire Class Action
Settlement of the Mickleham Road Bushfire Class Action: AusNet Services Ltd (ASX: AST) has informed that the parties to the Mickleham Road Bushfire Class Action have agreed to a settlement of the litigation, subject to Court approval. The date for hearing the application for Court approval of the proposed settlement has not yet been set. The settlement sum is $16m, inclusive of legal costs and interest. The amount to be paid by the parties include AusNet’s A$5 million, the Home City Council’s A$6 million and Homewood Consulting’s A$5 million. The group has recently successfully priced a 425 million 10.5-year Australian Dollar (AUD) bond issue and intends to use the proceeds to refinance existing debt and fund continued asset base growth.
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