Hansells Food breaches ANZ Bank covenant after customer trademark stoush

Wed, 25 Sep 2013

By Jonathan Underhill Sept. 25 (BusinessDesk) – Hansells Food Group breached a lending covenant with ANZ Bank New Zealand because of a loss of earnings at its Australian subsidiary stemming from a customer’s trademark dispute with another company. The Hansells unit had been making products for the customer under a brand which became the subject of a dispute and subsequently had “significant lost sales,” according to its 2013 financial statements. The breach was the only black spot in a year when sales climbed 9 percent and the Auckland-based...

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