The Supreme Court of Victoria has ordered the potential buyer of Tasmanian dairy the Van Dieman’s Land Company (VDL) to give five days notice, before settling the sale.
A sales contract between Australian company TasFoods and VDL’s parent company was nullified, when Moon Lake Investments, owned by Chinese businessman Lu Xianfeng, offered a higher price.
TasFoods sought – and gained – an injunction blocking the sale to Moon Lake, claiming the VDL’s owners had breached the sales contract.
The injunction was later removed but TasFoods has now taken the case to the Victorian Court of Appeal.
Moon Lake must now give five business days notice, allowing TasFoods to seek to convene the Appeals Court, to hear an application for interlocutory relief to restrain the completion of the sale.
The Moon Lake sale agreement is subject to Foreign Investment Review Board approval, which may be given, on, or before, January 29.
TasFoods' case against the owners of VDL will go to trial in February.
