What’s at stake: The potential redirection of $11.2 million due to alleged internal misconduct, with a significant legal and financial fallout.
Background: A long-standing relationship turns contentious as Binxi Foods contests a substantial financial demand from Progressive Meats, rooted in accusations of profit diversion and fiduciary breaches.
Key players: Binxi Foods NZ, Progressive Meats, High Court of New Zealand, Heilongjiang Binxi Cattle Industry Co, Gerard Brier, Arron Hoyle, Kelcold.
A high-stakes legal confrontation has taken another turn in the High Court, with a judge refusing to set aside a statutory demand worth more than $200,000 in a case involving claims of more than $11 million.
North Otago-based freezing works operator Binxi, a subsidiary of China-based Heilongjiang
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What’s at stake: The potential redirection of $11.2 million due to alleged internal misconduct, with a significant legal and financial fallout.
Background: A long-standing relationship turns contentious as Binxi Foods contests a substantial financial demand from Progressive Meats, rooted in accusations of profit diversion and fiduciary breaches.
Key players: Binxi Foods NZ, Progressive Meats, High Court of New Zealand, Heilongjiang Binxi Cattle Industry Co, Gerard Brier, Arron Hoyle, Kelcold.
