Treasury Wine Estates (TWE) continues to be pursued by Melbourne City Investments (MCI) over the wine supplier's announcement in July 2013 that it would take a $160 million hit to address a glut of stock in the United States.
MCI took legal action against TWE, alleging that it had breached its disclosure obligations regarding the US inventory provisions.
On December 22, 2014, the Court of Appeal of the Victorian Supreme Court found that the MCI proceeding was an abuse of process and that it be permanently stayed.
But TWE said on Tuesday said that MCI had filed a new action against TWE on substantially the same terms but with different legal representation.
TWE denied any allegations of wrongdoing and would continue to defend itself against the latest MCI proceeding.
Treasury said in July 2013 that it would destroy more than $35 million of aged and excess stock in the US and offer major discounts after admitting it overestimated the amount of wine needed to supply its US market.
The company also took other measures to address the oversupply.
TWE said at the time that all the measures taken would cost $160 million in 2012/13 and result in lower shipments - worth $30 million - to the US in fiscal 2014.
Disgruntled shareholders subsequently launched a number of legal proceedings against TWE, claiming that TWE had breached its disclosure obligations.
Shares in Treasury Wine were 16 cents higher at $4.88 at 1032 AEDT.
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