General
Van Dairy Group, owner of Australia’s largest dairy farm, sued in relation to milk price crash
The owner of Australia’s largest dairy farm, situated in Tasmania’s north-west, could be forced to pay $2.3 million to its previous owners after allegedly breaching the sale agreement.
Key points:
- TLC claims VDG has breached a sales agreement involving compensation for fluctuating milk prices
- VDG was paid a lump sum after the milk price crash in 2015-16, which TLC says should belong to it
- A lawyer for TLC has told the Supreme Court that retrospective price drops can have drastic consequences
The Tasmanian Land Company (TLC), which despite its name is owned by New Zealand’s New Plymouth District Council, has taken the Van Dairy Group (VDG) to the Supreme Court over the sale of the Van Diemen’s Land Company.
Chinese businessman Xianfeng Lu,…
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