15/06/2004 - 22:00

Caratti and PMR likely to settle

15/06/2004 - 22:00

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Caratti and PMR likely to settle

Caratti and PMR likely to settle

 

A $3 million legal squabble over a loan arrangement between major Western Australian farming and land holders, the Caratti family, and Bibra Lake-based PMR Quarries has spilled into the WA Supreme Court.

Caratti company Harvard Nominees lodged a writ seeking the money on June 10.

The money is said to be tied to a dispute over a loan arrangement between the two companies.

Both parties said the matter was likely to be settled out of court, though neither would disclose how the matter would be resolved.

John Caratti told WA Business News the dispute had been sorted out between the parties.

“We got into a bit of a dispute over a loan account but it’s all been sorted out now,” he said.

PMR Quarries director Renzo Della-Bona described the legal action as a “bit of a misunderstanding”.

“It might all be sorted out within the next few days,” he said. “It’s been a bit of a bluff and will be sorted out.”

The Caratti Group, believed to be headed by Allen and Maddeline Caratti, is one of Western Australia’s largest land holders. Allen Caratti was most recently in the news due to business links he is understood to have had with failed earthmoving king Kevin Pollock.

Australian Securities and Investments Commission records show that PMR Quarries is linked to another WA company, Limestone Block Company, with Mr Della-Bona sitting on the boards of both companies.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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