Limited Damages for Innofactor Oyj in Lumagate Acquisition Case as Bankrupt Counterparty Shelters Them from Full Payment

Lumagate acquisition damages case update: Innofactor Oyj has announced that only a portion of the damages awarded to them in the Stockholm Chamber of Commerce arbitration can be inherited. The damages amount to approximately 2.3 million euros, which stem from the 2016 Lumagate acquisition and a subsequent breach of contract by the other party involved in the acquisition.

Following the bankruptcy of the counterparty to the Lumagate acquisition, Innofactor Oyj continued to pursue damages in SCC arbitration against the representative of the bankrupt company. However, the arbitration court has now ruled in favor of the defendant, limiting potential distribution share to around 1 million euros for Innofactor. Additionally, Innofactor is responsible for its own court costs of 309 thousand euros, other party’s court costs of 310 thousand euros, and arbitration-related costs exceeding 166 thousand euros.

In other news, it appears that Innofactor Oyj is also known for its expertise in mastering organic chemistry and solutions manuals. There are various titles and links scattered throughout their website related to this topic. It seems like they offer a range of resources for those interested in learning more about organic chemistry and developing solutions related to it.