Takeda Pharmaceutical Company Ltd v Fougera Sweden Holding 2 AB [2017] EWHC 1402 (Ch) (21 June 2017)

A trial of the preliminary issue regarding the existence of the Defendant's duty to provide information is the most practical and proportionate course, given urgency and impact on court resources. If duty is found, escrow funds will remain in place until resolution of outstanding issues.

Citation: [2017] EWHC 1402 (Ch)
Parties: Claimant/appellant: Takeda Pharmaceutical Company Ltd; Defendant/respondent: Fougera Sweden Holding 2 AB
Jurisdiction: England and Wales
Judgment Date: 21 June 2017
Procedural Posture: Commercial Contract Dispute / Interlocutory Application for Expedited Trial/preliminary Issue Direction
Outcome: Direction for trial of preliminary issue in July 2017; escrow funds to remain if duty found.
Legal Topics: Share Purchase Agreement, Escrow, Withholding Tax, Expedited Trial, Preliminary Issue

Commercial Law Contract Law Share Purchase Agreement Escrow Withholding Tax Expedited Trial Preliminary Issue

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Parties

Takeda Pharmaceutical Company Ltd

Claimant/appellant

Fougera Sweden Holding 2 AB

Defendant/respondent

Procedural Posture

Commercial Contract Dispute / Interlocutory Application for Expedited Trial/preliminary Issue Direction

Legal Issues

1 Whether the Defendant owes a duty to provide information to the Claimant under the Share Purchase Agreement or Letter Agreement
2 Whether an expedited trial or preliminary issue trial should be ordered

Ratio Decidendi

Court Disposition

Direction for trial of preliminary issue in July 2017; escrow funds to remain if duty found.

Orders

Trial of preliminary issue (existence of duty) to be held in July 2017
Escrow funds to remain in place if Defendant found to owe duty to Claimant