Brierleys apologise
Brierley Investments, Ltd, and the Ravensdown Fertiliser Company, Ltd, have issued a public statement apologising to the Examiner of Trade Practices about a Supreme Court action involving Kempthorne Prosser and Company Ltd. The two say “without reservation” that they consider the examiner acted properly and have agreed to pay his costs arising from the legal proceedings. Their statement, said, “Brierleys and Ravensdown acknowledge that the share exchange between Kempthorne Prosser and New
Zealand Farmers Fertiliser did not constitute a notifiable merger or take-over in terms of the Commerce Act.
“Accordingly, they agree that the Examiner of Trade Practices had no reason to exercise his jurisdiction in the matter and apart from technical legal and procedural reasons should not have been associated in the consequent legal proceedings. “Brierleys and Ravensdown regret that the claims made in the legal proceedings suggested that the examiner had failed to act as required by the Commerce Act.”
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Press, 29 August 1978, Page 20
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154Brierleys apologise Press, 29 August 1978, Page 20
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