In a recent press release, Innofactor announced that they will only inherit a portion of the damages related to the Lumagate company purchase. The company was awarded damages of around 2.3 million euros in the Stockholm Chamber of Commerce arbitration for breach of contract by the other party involved in the 2016 Lumagate acquisition.
However, following the arbitration settlement, the counterparty filed for bankruptcy and Innofactor Oyj pursued damages on behalf of their estate against the representative of the company at the time of acquisition. Unfortunately, Innofactor’s distribution share was limited to approximately 1 million euros by an arbitration court decision.
In addition to their own court costs totaling over 309 thousand euros, Innofactor will also be responsible for covering the other party’s court costs of 310 thousand euros and more than 166 thousand euros in arbitration procedure costs. This outcome highlights the complexities and challenges involved in legal disputes related to company acquisitions.
On a different note, there seems to be unrelated content about mastering organic chemistry and solutions manuals interspersed with information about Innofactor, possibly due to an error in copying and pasting content.
In Detroit, the consequences of Fourth of July celebrations are now being felt. After fireworks…
The Giants faced a tough challenge against the Cardinals in the final game of their…
In-state recruit Kendre Harrison has been a hot commodity for both the North Carolina football…
As the New York Yankees approached the All-Star break, they found themselves in a precarious…
Michael Soroka has been making waves in the bullpen for the White Sox since transitioning…
Schwarber is set to make his return to the Phillies’ lineup on Tuesday after being…