Overview of Peet Limited (ASX: $PPC) announcement

Peet Limited (ASX: $PPC) has received claims in relation to its former role as development manager of the Atria mixed use development in ACT. The dispute involves Eyre Kingston Pty Ltd, CIC Projects Pty Ltd, Griffin Q Pty Ltd, and other related entities. PDM, a subsidiary of Peet, intends to defend the claims brought against it in the NSW Supreme Court proceeding.

Executive commentary on the Atria development dispute

PDM strenuously denies the claims brought against it in the NSW Supreme Court proceeding related to the Atria Development. The company is committed to defending its position in this matter.

Summary of Peet Limited (ASX: $PPC) announcement

Peet Limited (ASX: $PPC) has been confronted with claims regarding its previous involvement in the Atria mixed use development in ACT. The company, through its subsidiary PDM, is determined to defend itself in the NSW Supreme Court proceeding. The dispute arose following a deadlock between the directors and shareholders of Eyre Kingston Pty Ltd, leading to its liquidation. Despite the challenges, Peet Limited remains resolute in its stance to address the claims and defend its position in the ongoing legal proceedings.