Business Services Industry
ASX Perpetual settles dispute.
Australasian Business Intelligence, August, 2001
Aug 2, 2001 (Money Management
ABIX via COMTEX) -- ASX Perpetual Registrars and Computershare have finally come to an agreement after a long-running dispute. The legal action stemmed from the bureau services Computershare provided to the share registry, ASX Perpetual Registrar, which is a joint venture between the Australian Stock Exchange (ASX) and Perpetual. Computershare had claimed that ASX Perpetual had breached confidentiality agreements. ASX Perpetual filed a countersuit alleging that Computershare abused its market dominance. ASX and Perpetual have now agreed to establish a new bureau system for ASX Perpetual's customers in advance of the official termination of the contract between Computershare and ASX Perpetual at the end of 2001.
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