Background to the class action discontinuation
On 1 July 2021, ISGM, its parent company, Tandem Corporation and several related companies were placed into voluntary administration by their directors. Arising from the administration, on 7 July 2021, the Federal Court of Australia suspended the class action. On 5 August 2021, a vote of creditors took place, resulting in ISGM being placed into liquidation.
In light of these circumstances, the class action proceeding (including the associated cross-claims) was discontinued on 21 June 2023. The discontinuance of the proceedings does not affect any rights of group members to pursue their own similar claims, should they wish to.
Claims in the Liquidation for ISGM Group Members
If you were a group member of this class action, you are considered a creditor in the context of ISGM’s liquidation, and have the opportunity to submit your claim to the liquidators for consideration in the distribution of any payments the liquidators may determine to make.
In order to have your claim considered by ISGM’s liquidators, you must submit a Proof of Debt to substantiate your claim. By submitting a Proof of Debt, you will make your claim known to the liquidator, and become entitled to receive information and updates, including reports about the affairs of the company, the progress of the liquidation and the options available to creditors.
You can contact the liquidator directly to obtain a copy of the Proof of Debt form which you can complete and submit yourself by visiting https://www.mcgrathnicol.com/creditors/tandem-group/ or by emailing tandemcreditors@mcgrathnicol.com.
If you have any questions please contact us on 1800 325 172.
