Media Release
April 8, 2010
CKI claims against Bluescope for misleading and deceptive conduct
Proceedings were commenced before the Easter holiday by Cheung Kong
Infrastructure Holdings Limited (CKI) in the Federal Court of Australia against
Bluescope Steel Limited (Bluescope).
The statement of claim issued by CKI alleges that Bluescope engaged in misleading
and deceptive conduct in relation to its sale of an iron sands mine in New Zealand in
2008.
The claim alleges that during the bidding process for the mine and iron sands business,
Bluescope provided false information, and failed to disclose information, which was
crucial to the ongoing operations and value of the mine. The false and undisclosed
information included customer, landowner and shipping matters.
The statement of claim alleges that such conduct by Bluescope caused CKI to
overvalue the mine. CKI is now seeking damages from Bluescope.
The proceedings were filed last week, prior to the Easter holiday period by Johnson
Winter & Slattery on behalf of CKI at the Federal Court of Australia.
Media Contact:
Kirkwoods Corporate Relations
(02) 9231 5600
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