Huon Aquaculture and feed supplier settle multi-million law suit

News
1587

A million dollar legal case has been settled in mediation involving two major companies.

Huon Aquaculture – one of Tasmania’s biggest salmon producers – paid AUS $16.6 million on Friday to feed supplier Ridley Corporation to cover outstanding payments. Huon also received AUS $4.5 million in compensation according to Feed Navigator.

In January Ridley Corporation sued Huon Aquaculture for more than AUS $17.5 million for non-payment of fish food. Huon claimed that the feed it received from late 2014 onwards was not up to scratch.

In court documents shown in ABS news Huon claimed it received complaints from customers about the flesh colour in its salmon from March 2015, with shipments being rejected and unable to be sold.

An agreement was made in late June with settlements to be finalised by July 21st.