Article Number : 6558 |
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| Date | 4/19/2011 9:49:20 AM |
| Written By | LGM & Associates Technical Flooring Services |
| View this article at: | //floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=6558 |
| Abstract | April, 15, (Baar, Switzerland), On April, 14, 2011 an arbitration panel in Stockholm, Sweden rendered a final award confirming that the Settlement and Cooperation Agreement between Välinge and Pergo was not terminated by Välinge. Thus, Pergo (Europe) AB and Pergo LLC retain their irrevocable royalty-free right and... |
| Article | April, 15, (Baar, Switzerland), On April, 14, 2011 an arbitration panel in Stockholm, Sweden rendered a final award confirming that the Settlement and Cooperation Agreement between Välinge and Pergo was not terminated by Välinge. Thus, Pergo (Europe) AB and Pergo LLC retain their irrevocable royalty-free right and permanent indemnification under Välinge’s patents. The Arbitrators ruled that Välinge’s attempted termination of Pergo’s rights was ineffective. The Tribunal declared that Välinge was not permitted to terminate the agreement and that the agreement consequently should be declared as being effective. Välinge was ordered to compensate Pergo’s arbitration costs of nearly 500,000 € and to totally bear the costs of the arbitration. This absolute and expected decision should also result in the end of other misleading and wholly unjustified disputes that Välinge has brought against the Pergo companies, including a recent action in the United States. “Now that our rights have been confirmed, we can expect that the case brought in Delaware by Välinge against Pergo will be dismissed. There is no logic for it to continue,” says Ralf Eisermann, CEO of Pergo AG. This decision exemplifies Pergo’s continuing commitment to its license partners and customers. For further information, please contact Mr. Eric Robins at eric.robins@pergo.com. |