In Full Petential Pty Ltd v Vetzpetz Australia Pty Ltd [2024] QSC 158, the Supreme Court of Queensland considered the legality of a termination notice sent by Vetzpetz to Full Petential regarding a Sub-Distribution Agreement for the veterinary product "Antinol." The respondent, Vetzpetz, claimed termination based on two grounds: a breach of a sourcing clause and a change in beneficial ownership of Full Petential’s parent company without immediate notification to Vetzpetz. The court ultimately dismissed the application, ruling that Full Petential had rectified the breach within the specified timeframe. Regarding the change of ownership, the court determined a change had occurred in the indirect beneficial ownership of Full Petential due to shifts in the ownership of its parent company, Cenversa, thereby validating Vetzpetz's right to terminate the agreement.
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