The NZX Stock Exchange (NZX:NZE) has announced it has settled all outstanding matters regarding the NZX Ralec litigation following the High Court’s decision released 16 November 2016. As a result, there will be no appeal by either party of the High Court’s decision.
The litigation related to the acquisition of the Clear Grain Exchange from Ralec Commodities Pty Ltd made by the previous management of NZX in 2009.
NZX CEO Tim Bennett
NZX CEO Tim Bennett commented:
Today’s announcement means that NZX can finally move on and put this matter behind us once and for all, and direct our valuable resources to growing our business.