SA SpineVision litigation dismissed by French Commercial Court
Inion Oy has successfully defended a court action brought by SA SpineVision in the Commercial Court of Paris.
Inion and SpineVision signed a confidentiality agreement in October 2002 with a view to exploring the possibilities of a joint development in the spinal area. However, no contractual agreement was reached and in October 2003 Inion decided not to pursue the relationship any further. In January 2004 SpineVision served a writ alleging unfair termination of contractual relations and seeking damages of around EUR9 million.
When Inion carried out its Initial Public Offering in 2004, this action was identified as a risk factor. In the listing particulars the directors of Inion stated that they believed the claim to be unfounded.
In defending the case Inion asked for the Paris Commercial Court to rule itself unfit to hear the case and entered a counter claim against SpineVision. The judgement given by Mr Miffre, Presiding Judge on 4th October 2005, and received in writing by the Company on 17 October, was as follows:
1. The Commercial Court of Paris disclaims competence in favour of another court
2. SA SpineVision is ordered to pay Inion's court and legal costs
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