Dispute over Masters threatens sale

SYDNEY ―  The legal battle between former partners Lowe’s and Woolworths over joint venture Masters Home Improvement could continue through the end of the year. According to the Australian Financial Review, a prolonged feud could imperil the planned sale of Masters’ properties to a group of real estate investors for $725 million. An Australian court will rule tomorrow on Lowe’s petition for the appointment of an independent liquidator to wind down Hydrox, the company created by the JV partners to hold Masters.