16 Nov 2016
FONTERRA CO-OPERATIVE GROUP LIMITED v MCINTYRE AND WILLIAMSON PARTNERSHIP AND ORS [2016] NZCA 538
- Citation
- (2016) 14 TCLR 435
- Court
- Court of Appeal
The Court held Fonterra exercised its s74(3) discretion and the suppliers became new entrants/shareholding farmers; s106 therefore applied and Fonterra breached it by offering materially less favourable terms that were not objectively justified by commercial circumstances (the terms were imposed to placate existing shareholders and to penalise perceived disloyalty); further, Fonterra representatives gave misleading impressions about the respondents' legal ability to share-up and about a moratorium applying to wet shares, constituting misleading and deceptive conduct in breach of s9 FTA; appea…