brisbane

A class action law suit is being organized against Aecom the traffic and revenue forecaster on behalf of investors who lost their money when the Clem7 or North-South toll tunnel went broke in Brisbane, Australia. Organizers of the law suit Andrew Charles of IMF Australia Ltd, a litigation financing firm, and Maurice Blackburn Lawyers says the claim is based on two complaints:

A banking syndicate in Australia last week pulled the plug on RiverCity Motorway (RCM) owners of the CLEM7 toll tunnel after just eleven months of operation, adding to other failures of Australian city toll tunnels - the Cross City and Lane Cove tunnels in Sydney.

The great global financial fiasco has its fun side. Mrs Fang He, apparently an emigrant Chinese woman filed with the Australian Stock Exchange November 5 that she had become, under the rules of trading, a "substantial holder" of stock in BrisConnections, a recently formed toll concession in Brisbane, Australia's third city. She bought 32.3 million shares ('units' there) or 8.6% of the equity of BrisConnections.