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A dispute between Metcash Limited (ASX:MTS) and a former executive director has resulted in “alarmingly large” litigation costs, according to the NSW Court of Appeal, as reported by Fairfax Media.
The amount was so costly, Lou Jardin was allowed to lodge an appeal to see if the order for him to pay all legal costs might be reversed.
Yesterday he lost the appeal, and has to pay Metcash’s $686,000 worth of costs. Mr Jardin and his company also spent $400,000 on the case.
Metcash reported a half year net profit of $97.8 million to October 31, 2011.
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$3.90 |
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Mkt cap ! $4.286B | |||
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