Point Trading files lawsuit against Elbit Systems

8 September 2011 (Last Updated September 8th, 2011 18:30)

Australia's Faxtech (trading as Point Trading) has filed a lawsuit against Israel's Elbit Systems for misrepresentating its exclusive right to supply night vision systems to the Australian Department of Defence (DoD). According to the lawsuit, Elbit has over-reached the terms of the contr

Australia's Faxtech (trading as Point Trading) has filed a lawsuit against Israel's Elbit Systems for misrepresentating its exclusive right to supply night vision systems to the Australian Department of Defence (DoD).

According to the lawsuit, Elbit has over-reached the terms of the contract its subsidiary ITL Optronics had signed with Point Trading.

Point Trading claims that Elbit has damaged its business and reputation of being an exclusive supplier of the ITL Optronics Mini N/SEAS and N/CROS product lines in Australia and New Zealand and jeopardised highly skilled Australian manufacturing jobs.

In response Elbit Systems Limited have issued a statement saying that "Point Trading breached its commitment to ITL (which has since been acquired by Elbit Systems), and to this day has not paid its undeniable debt of over $1m to ITL.

"Elbit Systems received the statement of claim and is studying it, though it appears from an initial review of the claim that it does not raise any issue that has not been discussed previously."

Point Trading has appealed to the court to stop Elbit and its subsidiaries from making misleading statements about Point Trading's rights.

Point Trading CEO Avner Klein said, "Large defence conglomerates like Elbit come to Australia and push around small organisations like us that have successfully served our defence force for more than two decades, use bullying tactics and contribute little to the local economy."