HST hastie group limited
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News: Hastie Group takes legal action in Dubai

  1. FNN News
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    16/04/12
    10:39
    Post #: 9985059
    .


    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.



     





     


    HST Price at posting: 16.0¢ Sentiment: None Disclosure: Held
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