Fonterra boss sanguine on Australian legal action

Fri, 18 Sep 2020

Fonterra chief executive Miles Hurrell is not concerned about pending legal action in Australia. “We feel very comfortable in our position and we will defend it rigorously,” he told BusinessDesk. Today’s annual report includes a contingency liability noting that in June, a class action was filed in the Supreme Court of Victoria against Fonterra on behalf of farmers who supplied milk to Fonterra Australia in the 2015/2016 season. It does not specify an amount given the early stages of the litigation, but Hurrell said “we will go through...

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