BRIEF – 16 August 2010 – Ceramic Fuel Cells Limited has won a legal action in the Federal Court over poor investment advice in an action prosecuted by IMF Australia Ltd, which funded the case.

Ceramic Fuel Cells, which has developed high efficiency and low emission electricity generation units for domestic and commercial use will  receive about $3.9 million from the case against Oakvale Capital Limited.

In a prepared statement, Ceramic Fuel Cells said: “Ceramic Fuel Cells and IMF have agreed to settle the case against Oakvale Capital Limited, with Oakvale’s insurer to pay the agreed settlement sum by 27 August 2010.

“After legal costs and IMF’s agreed share of the settlement sum, Ceramic Fuel Cells will receive approximately $3.9 million including GST.”