Company loses $270m claim over infant formula factory

Mon, 23 Sep 2019

By Victoria Young Sept. 24 (BusinessDesk) - A company which had claimed $270 million in damages has failed in a court pursuit of its former business partner after plans to build an infant formula plant came undone. While the company, Pure Elite Holdings, did not succeed, Justice Edwin Wylie has pointed out potential Companies Act breaches by its opponents, directors Brian Wagstaff and Richard Young. According to a judgment dated Sept. 3, the case concerned the business relationship between Pure Elite and Bodco. The latter took over D...

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