Fonterra's Dira breach appeal rejected by Supreme Court

Wed, 20 Dec 2017

By Sophie Boot Dec. 21 (BusinessDesk) - Fonterra Cooperative Group breached the Dairy Industry Restructuring Act (Dira) by imposing less favourable terms on farmers who had previously supplied the failed New Zealand Dairies, the Supreme Court has confirmed. In 2015, the High Court ruled that Fonterra had breached Dira after buying the independent processor's plant out of receivership in 2012 for $48.5 million and taking on the farmers, who supplied milk from farms in North Otago and South Canterbury. Fonterra made a deal with the farmers,...

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