Ralec misrepresented relationship with grain handlers, NZX lawyers say

Mon, 02 May 2016

By Sophie Boot May 2 (BusinessDesk) - The former owners of the Australian Clear Grain Exchange made false representations about their relationships with Australian grain handlers, Wellington's High Court has heard. Ralec is facing stock market operator NZX in what's expected to be a nine-week trial over NZX's purchase of the Australian Clear Grain Exchange in 2009. NZX is suing for between A$20.7 million and A$37.6 million, and Ralec has countered with a suit totalling A$14 million plus bonuses. NZX claims Clear’s former owners, Grant...

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