Treasury Wine Estates class action, NZ twaddle

Saving treasure

Good news Treasury Wine Estates has fought off one of the two class action lawsuits filed against the winemaker after a $160 million write down and profit warning three years ago.

The Federal Court ruled the actions brought by litigator Mark Elliott (Melbourne City Investments) was an abuse of the court process.

The outstanding class action is being brought by law firm Maurice Blackburn and is expected to come before the court in October.

Maurice Blackburn allege TWE knew, or should have known, by August 2012 that large write-downs were inevitable,  but it took until July 2013 to announce they were writing off  $35 million  worth of wine (mainly in the US) and handing over another $40m in discounts to middlemen.


Struth what a load of twaddle: A quote from New Zealander Roy Zane

“While engineers use traditional calculators to work out the structural integrity of a building, our calculator can tell people something much more interesting: how much and what kind of wine they should get for their wedding or event.”

Zone along with Steven Male have launched an app that is supposed to be of help when buying wine for a wedding.

The duo say a lot about the difficulties of buying wine for a function but they make their dosh out of the wineries/organisations/suppliers they have done a deal with, so how impartial is that? TKR advice is go to a good wine store with a budget in mind  and the number of guests along with the menu and better advice will be forthcoming, I’m sure.

Leave a Reply

Your email address will not be published. Required fields are marked *