Hills Limited (ASX: HIL) announced today that the application by Milestone Systems A/S to wind up Hills has been dismissed by the Court and Milestone has notified the Australian Securities & Investments Commission of the Court order.
The quantum of the claim was $56K and as this amount was in dispute between the parties, Milestone had no basis to bring such an application.
Hills CEO and Managing Director, David Lenz said, “Given the quantum of the dispute, the application was unwarranted and validates our decision to conclude our business association with Milestone in Australia.
“Hills is an iconic Australian company that, almost 70 years on, is still evolving and adapting. We are focused on continuing to deliver improvements in our business and implementing strategies that will deliver the best outcomes for our customers, vendors, shareholders and staff,” Mr Lenz said.