Solvay Wins Environmental Case Against Edison
Solvay has announced that the International Chamber of Commerce’s arbitration tribunal has found Edison liable for breaching environmental representations and warranties in the sale of the Spinetta Marengo and Bussi sul Tirino sites in Italy to the Belgian group in 2001.
In a decision issued on Jun. 22, the tribunal has ordered Edison to compensate Solvay more than €90 million in losses and damages incurred up to the end of 2016. However, it reserved its decision on additional losses and damages from 2017 onwards, including the interest applicable to the amount awarded and the costs of litigation, for another possible phase of arbitration proceedings.
“The outcome of the arbitral sentence is very important for Solvay as it recognizes the deliberate misrepresentations we experienced during the acquisition process,” said Marco Colatarci, Solvay’s country manager Italy.
Solvay added that the decision comes after years of international arbitration after it claimed that Edison was liable for breaches of the environmental conditions and provisions contained in the share purchase agreement of December 2001. This agreement resulted in Solvay's acquisition in 2002 of the Italian company Ausimont, which at that time was owned by Edison (as Montedison).
Action resumes in China on patent infringement
In separate news, Solvay has resumed steps to seek an injunction against China’s Zhejiang Fluorine Chemical New Material for infringing its intellectual property rights relating to polyvinylidene fluoride (PVDF) materials specifically tailored for use as binders or separator/separators’ components in batteries.
The infringement action had been stayed pending a decision by the Patent Reexamination Board of the Chinese Patent Office on a case filed by Zhejiang Fluorine Chemical, which sought to find Solvay’s patent invalid.
Solvay said that as the validity of its patent was conclusively established by the Patent Reexamination Board on Feb. 2, it has now resumed proceedings before the Guangzhou IP Court and is seeking damages.
Author: Elaine Burridge, Freelance Journalist
