Woolworths wins court case

Retailer Woolworths has won a legal battle against American retail giant Lowe's attempt to appoint a liquidator to the failed Masters hardware chain.
Woolworths on Tuesday afternoon secured a stay of an application from Lowe's to wind up the joint venture used by the companies to run Masters. Woolworths announced in August it would close the struggling hardware chain.
Lowe's made the application for the court to appoint an independent liquidator to the Masters joint-venture company Hydrox Holdings to "oversee the equitable and orderly wind-up" of the company.
Justice Lindsay Foster instead ordered both parties enter into arbitration to resolve their differences. Justice Foster also ordered Lowe's to pay Woolworths' costs.