Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Contingencies

v3.19.2
Contingencies
12 Months Ended
Jan. 31, 2019
Disclosure of contingent liabilities [abstract]  
Contingencies

33 Contingencies

 

Contingent Liabilities

 

The Group had the following contingent liabilities at the end of the reporting period:

 

    31 January 2019
NZ$000’s
    31 January 2018
NZ$000’s
    31 January 2017
NZ$000’s
 
Rent guarantees to certain landlords     419       419       571  
Standby letter of credit to JP Morgan Chase Bank     291       291       286  
Guarantee provided to UK Customs Department     304       329       282  
Guarantee provided to ANZ for Merchant Service     172       172       -  

 

A shareholder has lodged a court Action against the Group claiming they did not receive the correct number of shares in the Group on completion of the merger between Naked Inc. and Bendon Limited on 19 June 2018. The Group has sought to have this claim dismissed by the Court on the basis that the Group had no contract with the shareholder and that the shareholder did not have a possessory right over a certain number of shares in the Group.