Hastie Group takes legal action in Dubai

Company News

A payment dispute between Hastie Group Limited (ASX:HST) and one of its clients has prompted the building supplier to take legal action in Dubai.

According to Hastie, the dispute is over $8.5 million in underpayments. 

Hastie is now trying to legally prevent the Dubai building company from claiming more than $6 million of construction bonds.

Shares in Hastie group entered a trading halt on Friday as it prepares a response to the dispute.

In the first half of the 2012 financial year, Hastie Group reported a net loss of $149 million.

 


 


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