Spur Corporation has made a R129.5 million provision after an arbitrator awarded GPS Food Group R74.6 million
Spur Corporation has made a R129.5 million provision after an arbitrator awarded GPS Food Group R74.6 million in damages in a long-running dispute over an alleged rib-processing joint venture.
The dispute dates back to 2019, when GPS served summons on Spur Group and Spur Corporation.
GPS claimed that the parties had agreed to establish a joint venture to acquire, develop and manage a rib-processing facility.
The matter was subsequently referred to arbitration.
