03/07/2001 - 22:00

Tuart widens legal action

03/07/2001 - 22:00

Bookmark

Save articles for future reference.

THE stoush between Tuart Resources and shareholders Dean Scook and Carol Hardie has escalated, with the mining-turned-wine company suing the pair for $14.6 million.

Tuart widens legal action

THE stoush between Tuart Resources and shareholders Dean Scook and Carol Hardie has escalated, with the mining-turned-wine company suing the pair for $14.6 million.

Tuart director Bob Hendrie said the legal action arose from an indemnity provided by Mr Scook, Ms Hardie and several associated entities when Tuart bought wine group Nelson Ridge.

Nelson Ridge was the holding company for a vineyard management group which has control of WA’s biggest single planting to date, the 250 hectare Preston Vale vineyard near Donnybrook.

Mr Hendrie said the matter was no reflection on the vineyard assets, which he said were in good shape.

The indemnity was secured against up to 80 million Tuart shares, which are worth around three cents at recent prices.

Mr Scook described the action as “silly”.

“They are issuing writs for as much as they can or more than can,” he said.

“It doesn’t mean anything.”

Mr Scook said a number of other legal actions against him and his associates were under control and related to arguments of whether interest payments owed on mortgages should be compounded or fixed.

Tuart already has sued several companies associated with Mr Scook for $200,000, adding to writs against him and Ms Hardie from Robert and Alice Paisley-Kerr for $292,793 and a series of other writs, largely from people in the country, previously reported in Business News.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options