Strange, controlled by businessman Warren Strange, was the founder of specialist drilling rig manufacturer Globe Drill, which Coretrack acquired in 2010.
Globe Drill held the licence to the IP rights for part of the rig, though the ownership of these rights remained with Strange.
In an announcement to the Australian Securities Exchange, Coretrack said Strange had lodged an injunction with the Supreme Court of Western Australia that would allow Strange to take possession of the rig under a clause in their 2010 agreement.
That
