Monday 31st July 2023
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On 20 October 2022, Winton released a market announcement in which it confirmed that it had issued proceedings against Kāinga Ora in the Auckland High Court, alleging anti-competitive conduct under the Commerce Act.
Winton has now completed the initial work to quantify the loss and damage suffered by it as a result of Kāinga Ora’s conduct. An Amended Statement of Claim has been filed in the Auckland High Court today to include the provisionally assessed amount of $138.5m in damages plus costs and interest. The amount claimed represents Winton’s view as to quantum of the loss it has suffered as a result of Kāinga Ora’s alleged anti-competitive conduct.
While Winton looks forward to vigorously presenting its claim to the Auckland High Court, there is no assurance that these proceedings will be successful nor that, even if Winton receives a favourable judgment, the quantum of damages awarded will be the same as those claimed by Winton.
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