Michael Hill International said that the NSW Court of Appeal has reduced the jeweller’s liability related to its three breached sales agreements with paper bag supplier Gispac.
Exclusive of interest, Michael Hill’s liability for damages has been reduced from $2.3 million to $359,858.
The court also ordered Gispac to pay Michael Hill’s appeal costs, but the initial trial costs, which the court has yet to further determine.
The judgement relates to packaging supply disputes between the two companies from 2014 to 2018.
The decision is subject to appeal within 28 days.
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