Taste falls on Fish & Chips dispute

At 12.17pm‚ shares in Taste were 4.69% lower at 302 cents. Over the past 12 months the shares have risen by 202%.

The company said its attorneys expect the matter to be heard in the latter part of 2013.

“A dispute arose in regard to the set-off account‚ which consists primarily of deposits paid by prospective franchisees to the sellers. Buon Gusto referred this dispute to its auditors for determination‚ in accordance with the provisions of the agreement‚” Taste said in a statement.

The sellers have purported to cancel the agreement and have issued summons in this regard.

“Buon Gusto does not accept the purported cancellation and deems it to be entirely without foundation. It is defending the action and will file a counterclaim in due course. It is furthermore considering instituting various other actions to safeguard its rights‚” Taste said.

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