Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Long-Running UK Butter And Cheese Cases Settled

For Immediate Release
11 December 2003

Long-Running UK Butter And Cheese Cases Settled

Fonterra Chief Development Officer Alexander Töldte today announced the successful resolution of the long-standing legal dispute with UK Customs involving imports of New Zealand butter and cheese into the European Union in the mid-1990s.

The dispute related to demands by UK Customs for £323 million in back-duties for product imported by subsidiaries of the New Zealand Dairy Board. This followed an audit by the EU Court of Auditors in 1996, which criticised various import procedures that had been in place for several decades.

"The claims were complex and highly technical," said Mr Töldte. "They involved the interpretation of EU quota requirements relating to product composition, method of manufacture, weight of butter and cheese and customs procedures for the importation of the products."

After various reviews by UK and EU authorities, and numerous court hearings, it has now been agreed that duties totalling £11 million are due, which will be met from funds already held by UK Customs.

The previous quota regime has since been replaced by a new and exacting compliance and testing regime. Fonterra has been working closely with the UK, EU and New Zealand authorities to ensure that problems of the 1990s cannot recur. "Fonterra is committed to absolute integrity and full compliance in all its businesses around the world," said Mr Töldte. "The settlement in the UK brings welcome closure to this whole affair."

- Ends -

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Bell Gully: Uncertainty Ahead With New Unconscionable Conduct Legislation

new prohibition against ‘unconscionable conduct’ in trade is one of a number of changes to the Fair Trading Act 1986 that come into force from 16 August 2022. The new prohibition may have wide-ranging implications for many businesses... More>>


Statistics: Food Prices Increase 7.4 Percent Annually
Food prices were 7.4 percent higher in July 2022 compared with July 2021, Stats NZ said today... More>>



REINZ: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market

New Zealand’s winter property market continues its recent trend, slowing from the pace of sales and price rises of last year — properties stay on the market longer and median prices dip... More>>



Kiwi Group Holdings: Fisher Funds Acquires Kiwi Wealth Business

Kiwi Group Holdings Limited (KGHL) today announced the sale of Kiwi Wealth to Fisher Funds for NZ$310 million... More>>



Retail NZ: Welcomes Return Of Cruise Ships

“Cruise visitors were big spenders in retail prior to COVID-19, and retailers in Auckland will be celebrating the arrival of P&O’s Pacific Explorer this morning... More>>



ASB: Full Year Results: Building Resilience Today And For Our Future

In its 175th year, ASB has reported a cash net profit after tax of $1,418 million for the 12 months to 30 June 2022, an increase of $122 million or 9% on the prior year... More>>