AUSTRALIA: Wool Group In New Legal Tangle
The Australian Wool Services has found itself in yet another legal dispute, this time with Computershare Investor Services, the company that compiled the Australian Wool Services share register, according to the Herald and Weekly Times.
The news of the $1.5m domestic dispute with Computershare follows on from the settlement of an $11m asset dispute with South Africa's Cape Wools.
Although neither the Australian Wool Services nor Computershare would confirm or deny reports of the dispute, senior sources at the Wool House said that they believe the dispute stemmed from a disagreement over the original contracted fee to Computershare of $800,000.
Computershare claims that to meet the deadline for the share register it had to employ a number of additional staff, raising the original fee agreed.
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