NZX's Weldon saw 'Agri-Bloomberg' in Clear Grain Exchange: Ralec counsel opens

Tue, 03 May 2016

By Sophie Boot May 3 (BusinessDesk) - Former NZX chief executive Mark Weldon regarded the Clear Grain Exchange as an 'Agri-Bloomberg' and was uninterested in previous owner Ralec's view of its prospects, Ralec's counsel told the Wellington High Court in opening submissions. Facing claims from NZX counsel that Ralec had produced "wildly inaccurate" forecasts of future performance, Ralec's QC, Tim North, said the Australian grain exchange's former owners had not made false representations to NZX's board, which acquired the business in 2009....

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