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Australian Wheat exporter AWB Faces Three Class Actions
The head of AWB Ltd (ASX:AWB) says the company is aware of least three class actions the wheat exporter faces in Australia and the US.

US farmers launched their $US100 million ($120 million) suit in the New York District Court on Monday, alleging the company's corrupt conduct during the Iraqi kickbacks scandal cost them hundreds of millions of dollars in wheat contracts.

The Australian shareholders filed a $25 million class action in the Federal Court a day later, because of the fall in the share price caused by the Iraq bribery scandal.

AWB managing director Gordon Davis said the other action it faced in the US was from six citizens of northern Iraq, who felt that they were denied access to money from a United Nation's escrow account.

The Cole royal commission found that AWB breached United Nations sanctions when it allowed money held in an Iraqi fund in escrow to be "kicked back" to the Iraqi regime of Saddam Hussein via a corrupt Jordanian trucking company called Alia.

Mr Davis said the compensation suits that had been filed against the company were in the "very early stages".

"We've said about the class actions ... that we would vigorously defend them," he told a Rural Press Club function in Brisbane today.

"They're (in the) very early stage. We've been served with one class action, there are two others we're aware of.

"They'll wind their way through the legal process as you'd expect."
MGR Archive 22.4.2007
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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