11th Feb 2015 16:33
LONDON (Alliance News) - Treatt PLC Wednesday said the dispute over earn-out in relation to its acquisition of Earthoil Group in 2008 will now be referred to chartered accountants "for determination of the substantive claim, being the quantum of the earn-out".
The news follows rulings by the High Court and Court of Appeal on issues of contractual interpretation, two of which were found in Treatt's favour and one in favour of the sellers of the Earthoil Group.
The sellers of Earthoil filed the claims against the company in the Chancery Division of the High Court in late 2012.
Treatt shares closed up 0.2% at 155.75 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Treatt