Innofactor, a software supplier, has announced that only a portion of damages related to the company’s purchase from Lumagate can be inherited, according to the company’s press release. The damages awarded to Innofactor amount to approximately 2.3 million euros in the Stockholm Chamber of Commerce arbitration. These damages 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 the SCC arbitration against the representative of the bankrupt company. The arbitration court has now ruled in favor of the defendant, limiting the potential distribution share to around 1 million euros for Innofactor. Additionally, the company is responsible for its own court costs of 309 thousand euros, the other party’s court costs of 310 thousand euros, and arbitration-related costs exceeding 166 thousand euros.
On a separate note, there appears to be content related to mastering organic chemistry and solutions manuals following this information regarding Innofactor in the text. It is unclear what resources are being referenced or if they are relevant to this topic.
