Frucor tax battle over convertible notes escalates

Frucor tax battle over convertible notes escalates
By Paul McBeth Aug 1 (BusinessDesk) - Frucor Beverages' battle with the Inland Revenue Department over the treatment of its optional convertible notes escalated this year, with the drinks maker filing papers in the High Court and the tax department launching a back-up plan in case it fails. The Auckland-based maker of Just Juice and V energy drink filed a statement of claim and notice of assessments challenging the tax department's position in January, according to notes in its 2011 financial statements lodged with the Companies Office. The...