Primary Sector

UPDATE: Synait shares dive after unfavourable court decision on Pokeno

Jenny Ruth
Fri, 10 May 2019

(Updates throughout to add further comments from Synlait and from the Court of Appeal judgment.) By Jenny Ruth May 10 (BusinessDesk) - Synlait Milk says it is confident it can find a solution to the ownership problem now afflicting most of the land on which its new Pokeno factory stands because of an adverse Court of Appeal decision. That ruling effectively means the factory was built in breach of covenants affecting Synlait’s land. When Synlait purchased the 28 hectares of land in February 2018 it was conditional on the seller,  St...

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