Related:-Legal action considered after failed VDL bid
TASFOODS Limited will take legal action over the sale of Van Diemens Land Company.
TasFoods this morning announced the company had obtained an interim injunction from the Supreme Court of Victoria restraining the sale of VDL.
The injunction will be held in place until Wednesday when the matter is scheduled for a hearing in court.
TasFoods also said in a statement to the ASX that it would also be taking legal advice as to its right of damages against the Tasmanian Land Company and VDL current owner New Plymouth District Council.
The Australian company was first announced as the successful company in purchasing VDL for $250 million earlier this month.
However it was revealed on Friday New Plymouth District Council’s investment arm Taranaki Investment Management Limited had sold thecompany to a private foreign company.
Today’s announcement by TasFoods said the foreign company offered less for the sale of VDL than what TasFoods offered.
See more in tomorrow’s edition ofThe Advocate
This story Administrator ready to work first appeared on Nanjing Night Net.