Glencore-owned Viterra has failed in its bid for High Court leave to challenge a ruling in a 10-year battle with Cargill over the 2013 sale of malt producer Joe White, leaving the grain producer to fork over damages of almost $300 million.
Glencore-owned Viterra has taken its 10-year fight with Cargill to the High Court after an appeals court upheld a judgment putting it on the hook for almost $300 million in damages for misleading representations in the sale of malt producer Joe White in 2013.
In a decade-old dispute, Viterra has lost an appeal of a judgment holding it liable to pay Cargill Australia $293 million for misrepresentations about the performance of its malt producer Joe White, which it sold to Cargill for $420 million in 2013.
Grain producer Viterra will be ordered to pay Cargill Australia $168.9 million after a judge found the Glencore-owned company misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.
Food giant Cargill Australia has won its lawsuit against Glencore-owned Viterra alleging it misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.
The judge overseeing the lengthy trial between agricultural giants Cargill and Viterra over the $420 million sale of malt producer Joe White has shot down Viterra’s request to shield the identity of malting companies that allegedly engaged in shady business practices, including using a banned substance to produce malt.
Agricultural giant Cargill has been ordered to hand over documents to Glencore regarding its use of an unauthorised type of barley before and after its $420 million acquisition of malt producer Joe White.
An appeals court has ordered the judge overseeing a fraudulent concealment trial over Cargill’s $420 million purchase of the Joe White malt business to reconsider his decision to allow an in-house lawyer at Glencore to access “highly confidential” deal documents.
Viterra has been hit with costs for persisting with a special leave application to the High Court seeking to compel Cargill to turn over emails exchanged with its lawyers at Allens during the sale of its Joe White Maltings business, even after Cargill agreed to waive privilege and produced the documents.
A judge in the high-stakes trial over the $420 million sale of Viterra’s Joe White malt business to Cargill has denied Cargill’s request to have settlement talks admitted as evidence, shooting down the agricultural giant’s argument that the talks were needed to challenge Glencore in-house counsel’s assertion that he is of good character and will not breach a confidentiality agreement.