Auxilium Partners releases statement over pizza stoush
The full statement reads as follows.
The pizza battle continues...
An appeal lodged in the Federal Court of Australia by Liquidator Bob Jacobs at Auxilium Partners on behalf of the franchisees, will be heard on May 15 in the Federal Court of Appeal NSW Branch.
The legal action was taken after a class action on behalf of a number of Pizza Hut franchisees against former parent company Yum! Restaurants Australia Pty Ltd failed in March 2016.
Jacobs, who is the Liquidator for three companies representing eight pizza hut stores, put up $50,000 of his own money to file the appeal when he failed to get support from any other litigation funder and before he approached the Australian Taxation Office.
The ATO is providing an indemnity available to Trustees and Liquidators (insolvency practitioners) under The Financial Management and Accountability Act 1997.
(The case will be heard on May 15 with a legal team including Mr. Allan Myers QC representing the franchisees.)
Yum! sold the business to Sydney private equity operator Allegro in September 2016.
Photo credit: Pizza Hut Facebook page
