.jpg)
NZX advises that Ralec shareholders Grant Thomas and Dominic Pym have filed their defence of a claim brought against them by NZX seeking damages arising out of the purchase by NZX of the Clear grain business in 2009.
Thomas and Pym first lodged a protest to the jurisdiction of the New Zealand Courts, claiming that the case should be heard in Victoria, where they both live. A hearing was held in the High Court in Wellington on 15 November to determine jurisdiction. In the course of that hearing, Thomas and Pym also sought to have the claim brought against them by NZX dismissed.
Justice Gendall ruled against Thomas and Pym on both counts, determined that the case should be heard in New Zealand, and ordered them to file a defence by 22 December.
Thomas and Pym have now also filed a counterclaim in which several sums appear, amounting to some A$41 million. In past comments made by Thomas to the media, various sums have been mentioned, the most common being A$17 million.
NZX does not consider that these latest sums, or the claims they represent, have any more legitimacy than earlier amounts indicated by Ralec shareholders via the media.
NZX has not determined the extent of its damages claim at this time.
NZX looks forward to having its claim against Thomas and Pym heard in the New Zealand Courts.
