Paviour-Smith rejects claim NZX committed $100M to grain exchange

Fri, 06 May 2016

By Sophie Boot May 6 (BusinessDesk) - NZX director and Forsyth Barr managing director Neil Paviour-Smith has rejected Ralec's claims in the High Court that the stock exchange operator committed $100 million to its 2009 investment in the Clear Grain Exchange. Witness evidence has begun on the fifth day of the scheduled nine-week court action in which NZX and Ralec, the grain exchange's previous owner, are suing one another for up to A$37.6 million and A$14 million plus bonuses respectively. Paviour-Smith, who was appointed an NZX direct...

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