Microsoft prepares to sue over loss of Woolworths stock

Monday, 5 January 2009 15:29 GMT By Mike

According to this Time Online report, Microsoft is preparing to launch a class action suit against UK high street retailer Woolworths in a bid to reclaim several millions of pounds worth of stock.

The chain is set to close its doors to the public tomorrow as the recent credit crunch took its toll early last month. However, according to the Times article, the firm still has tens of millions of pounds of stock in its warehouses.

“Under ‘retention of title’ rules, suppliers can claim back their own stock if it has not been paid for but, more broadly, they can claim stock that has been paid for in lieu of debts,” says the piece.

More through the link.

Thanks, CVG.

By Mike Bowden

Latest