Brewer in $2 million Supreme Court action

16 April, 2012 by

By James Atkinson

ASX-listed company Oz Brewing has started Supreme Court proceedings against a bauxite mining company after a deal between the parties went sour.

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Oz Brewing recently announced it would pursue NSW bauxite explorer Volcan Australia Corporation (VAC) for a $2 million 'break fee', with the brewer alleging VAC had misrepresented its ownership of mining licences the brewer had agreed to acquire.

Oz Brewing on Friday advised the ASX it had issued a Writ of Summons against VOL in the Supreme Court of Western Australia claiming the break fee or alternative damages or compensation.

VAC director Sholom Feldman last month told TheShout the company will vigorously defend the claim.