SPC Global Files Legal Claims Over $4.5 Million Related to Shepparton Site Deal

SPC Global Targets Former Leadership Over $4.5 Million

SPC Global Holdings Limited (ASX:SPG) has escalated its legal battle against former directors Hussein Rifai and Andrew Cohen, alongside Perpetuity Capital Advisory Pty Ltd, filing new proceedings in the Supreme Court of Victoria. The company is pursuing recovery of more than $4.5 million, alleging breaches of directors’ duties tied to historical expenditure and reimbursement arrangements.

These fresh claims centre on transactions linked to the historical sale and leaseback of SPC Global’s Shepparton site, a deal that the company now contends involved payments and costs that were not properly authorised or aligned with appropriate company purposes. SPC Global asserts that these actions breached directors’ duties and other obligations, prompting the latest legal step to recoup funds.

Legal Proceedings to Merge With Earlier Case

This new filing supplements proceedings already underway against Rifai and Thor Capital Pty Ltd, announced in July 2026. SPC Global intends to consolidate the cases, potentially streamlining the legal process and amplifying the financial stakes involved.

The company emphasises that these allegations relate solely to past matters and do not implicate any current board members or executives. This distinction is likely aimed at reassuring investors and stakeholders amid ongoing operational progress.

Background on SPC Global’s Strategic Moves

SPC Global has recently demonstrated strong operational momentum, reporting a 27% rise in normalised EBITDA to $38.5 million for FY26, alongside a successful $100 million equity raise that significantly reduced net leverage. The company’s pivot towards higher-margin branded products and international expansion has positioned it for growth domestically and in Asia and the Middle East.

While the legal proceedings touch on governance and historical financial management, they stand apart from the company’s recent strategic advances and capital management efforts that have bolstered its balance sheet and growth outlook. The legal claims underscore ongoing challenges in untangling legacy issues from past leadership tenures.

Implications for Investors and Governance

For investors, the unfolding litigation introduces a layer of uncertainty, particularly regarding the timing and outcome of the recovery efforts. The $4.5 million claim is material but not transformative relative to SPC Global’s recent financial scale and capital structure improvements.

From a governance perspective, SPC Global’s pursuit of accountability for alleged breaches signals a commitment to addressing historical missteps and reinforcing fiduciary standards. How the courts rule and whether further claims emerge will be closely watched for their implications on board oversight and risk management practices.