A GROUP of 13 fertiliser distributors have served the National Australia Bank with a writ in the Supreme Court in order to recoup debts incurred through the failed fertiliser business Megafert.
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The group has issued the writ to try and claim around $13 million owed to them by the bank, saying payments they made to SA-based Megafert were taken by the NAB as it looked to recoup money from Megafert, which collapsed with debts worth $139 million and entered administration in 2011.
Group spokesman Donald Carter, Laharum Bulk Handling, in Victoria’s Wimmera region, said the aim was to simply get back money owed to them.
“We simply want our money back, not having the sums of money owed have been very hard on local businesses such as ours.”
The majority of the debts are due to Megafert not supplying fertiliser to the distributors they had paid for.
Mr Carter said the writ was served to the NAB on June 22 to avoid statute of limitations constraints.
“The writ was drawn up and lodged in the courts in December and was then served to NAB in June.”
Mr Carter said he was unsure of the next step in the case, but said he hoped the bank would agree to discussions with the creditor group.
NAB has confirmed it has received the writ.
