Today the Supreme Court of NSW made final orders in the SPA proceedings following the judgment of Justice Stevenson on 10 August 2018.
Charter Pacific had previously obtained a Supreme Court Order that specifically restrained the Microlatch group from dealing and/or transferring the patents. The Supreme Court orders today have had the effect of continuing this restraint while Charter Pacific and Mr Burke work to complete the acquisition and relisting of Charter Pacific.
Charter Pacific intends to commercialise the patent portfolio for the benefits of the shareholders of Microlatch/Securicom and Charter Pacific.
Mr Burke is seen to be an expert in the world of biometrics, more particularly he had the early foresight to register the family of patents through the Microlatch/Securicom group of companies. Mr Burke’s early vision has enabled the Microlatch/Securicom patents to be well positioned to take advantage of the biometric growth globally.