Pyne Gould settles Wilaci dispute, other legal issues ongoing

Sun, 10 Dec 2017

By Sophie Boot Dec. 11 (BusinessDesk) - Pyne Gould Corp has reached a confidential deal with Australia's Wilaci over late payment fees, which it says will be smaller than the 20.5 million British pound cost of its Supreme Court-ordered payout. NZX-listed, Guernsey, UK-based Pyne Gould posted a loss of 17.1 million pounds in the year ended June 30, from a profit of 6.5 million pounds in 2016, due to recognising the "abnormal expense" of the payment to Australian businessman John Gill's Wilaci, which the Supreme Court confirmed in July when...

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