Originally published Wednesday, March 18, 2009 at 12:12 PM
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Hamakua Macadamia pays $330,000 to ML Macadamia to settle lawsuit
Hamakua Macadamia Nut Co. has paid ML Macadamia Orchards $330,000 to settle a lawsuit.
Hamakua Macadamia Nut Co. has paid ML Macadamia Orchards $330,000 to settle a lawsuit.
Hilo-based ML Macadamia, the state's largest grower of macadamia nuts, sued Kawaihae-based Hamakua last year.
The lawsuit alleged Hamakua breached a contract by buying and processing only 3 million pounds of nuts in 2007, half as much as earlier agreed.
The two parties mutually agreed this month to settle all legal claims in exchange for Hamakua making the cash payment.
The parties have also agreed to terminate their nut purchase contract.
Hamakua President and co-owner Richard Schnitzler called the settlement "a business decision."
ML Macadamia president and chief executive Dennis Simonis declined to comment.
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Information from: Honolulu Star-Bulletin, http://www.starbulletin.com
Copyright © 2009 The Seattle Times Company
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