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New Zealand: Fonterra fights $474.9 million compensation claim over botulism scare

June 23, 2014 - 6:00am


New Zealand's Fonterra Co-operative Group Ltd. has requested the High Court that Groupe Danone S.A.'s claim for damages from the 2013 botulism scare be put on hold until the outcome of the arbitration in Singapore.

France-based Danone wants the court to award about $546 million New Zealand ($474.9 million) in compensation, TVNZ reported.

Earlier this month, the New Zealand Markets Disciplinary Tribunal fined Fonterra &150,000 New Zealand ($130,470) for violating continuous disclosure requirements to the NZX during the scare.

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