Australian businessman John Grill to appeal Torchlight loan ruling

Tue, 17 Nov 2015

By Paul McBeth Nov. 18 (BusinessDesk) - Australian businessman John Grill's Wilaci investment unit will appeal a High Court ruling that it wasn't entitled to A$33.6 million of penalty fees on a short-term loan to Pyne Gould Corp subsidiary Torchlight Fund No 1 LP. Guernsey-based, NZX-listed Pyne Gould said Wilaci is appealing the New Zealand High Court ruling, which it said "was correct and in accordance with long-established legal principles" and said the appeal was "without merit." The company said it won't comment further until the app...

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