Kilimanjaro files legal proceeding against MYOB
GENERAL
Fri, Dec 16 2022 03:50 pm
16 December 2022
Kilimanjaro files legal proceeding against MYOB
AUCKLAND, 16 December 2022 - Enprise Group (NZX: ENS) advises that Kilimanjaro has filed legal proceedings in the Federal Court of Australia against MYOB.
On 1 August 2022 Enprise advised NZX that its subsidiary Kilimanjaro Consulting Pty Ltd (Kilimanjaro) had disputed retrospective reduction in margins that Kilimanjaro Consulting receives on existing sales of MYOB Exo software.
Kilimanjaro has since sought to resolve the dispute by negotiation, without success.
Accordingly, Kilimanjaro, but has now filed legal proceedings in the Federal Court of Australia against MYOB Australia Pty Ltd (MYOB) seeking relief to maintain the benefit of the bargain they entered into with MYOB.
As noted in the announcement of 1 August, the impact of the purported reduction of 42.86% is approximately NZ$935,000 per annum.
Elliot Cooper
Chief Executive Officer
Enprise Group Limited
0275615501
Ends.
Announcement PDF
Markets News
Markets
Market close
Expectations of rate cuts boost NZ sharemarket in light trade
There were 89 rises and 48 falls on the main board.
Primary Sector
Global dairy prices drop again as supply outpaces demand
It is the biggest fall this calendar year.
