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Yara Begins Legal Action Against Burrup Holdings

7:32 AM MST | November 12, 2010 | Deepti Ramesh

Yara International says its Yara Australia (Sydney) subsidiary has begun legal action against Burrup Holdings (Perth, Australia) and its wholly owned subsidiary, Burrup Fertilisers (Perth), after those companies blocked attempts to allow an independent auditor to undertake a full inspection of Burrup’s books. Yara has a 35% stake in Burrup, and had sought to exercise its rights and carry out the audit but was denied access by Burrup. Yara has lodged an application with the Federal Court of Australia seeking an order requiring Burrup to allow the inspection...

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