Ralec's Pym says Clear hoped rebates would lure major grain buyers

Sun, 19 Jun 2016

By Sophie Boot June 20 (BusinessDesk) - The former owners of the Clear Grain Exchange believed that providing rebates to major buyers would put the business on a stronger financial footing even though they would have eaten through most of the fees generated from trading, the High Court in Wellington heard. NZX bought Clear for A$7 million in October 2009, with two earn-outs of A$7 million tied to performance. The stock market operator is suing Dominic Pym, Grant Thomas, and their companies Ralec Commodities and Ralec Interactive for betwe...

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