Mainfreight says it has not begun legal proceedings against the former owners of a European firm it purchased in 2011, despite a newly published book on the history of the logistics firm clearly stating that court action seeking $18m in damages has commenced.
In a statement to the NZX this morning the company said a Herald story wrongly stated that Mainfreight had begun court proceedings against the former owners of the Wim Bosman Group, the Netherlands-based transport operator it acquired in for 110 million euros, over alleged non-disclosure of the impending loss of a major customer during the sale process.
However, Ready Fire Aim, the soon-to-be-released official history of the New Zealand logistics firm by Keith Davies, says: "Mainfreight reacted, [to the alleged non-disclosure] and at the time of writing had commenced court action seeking 11.2 million euro ($NZ18m) in damages."
Mainfreight chief financial officer Tim Williams said the book, which was published by Random House and will be available for sale from August 16, was not correct.
"The correct position is that Mainfreight has notified the previous owner that it intends to bring a claim," Williams said. "Any claim must be made through arbitration. Mainfreight has not commenced arbitration proceedings. If it does commence arbitration proceedings it will make an announcement at the time."