Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

 Main Page
 Home Page of This Title
 Medium Grain Rice Market
 Global Market News
 Grain News
 Pulses News
 Global Overview
 Importers Profile
 Exporters Profile
 What Is Rice
 History Of Rice
 Rice Harvest Seasons
 Rice Processing
 Rice Nutrition Facts
 Meals With Rice
 Restaurants
 INCO Terms
 Ports
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Rice
 Grain
 Agriculture
 Commodity Exchange
 Weather
 Other
 Info
 Editor
 Advertisement
 Technical
Search in news database
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
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
Password:
      Forgot your Password?
Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
Click for Details

Medium Grain Reports
Rice Market News
World Rice Markets and Trade
USDA Country Reports
Rice Market Monitor
Rice Outlook
Italian Paddy Supply
European Rice Weekly
EU Reports
Convert this amount:


Convert
  © 2002 All rights reserved. - Legal Notice