Marksans Pharma Ltd v Peter Beck & Partner VVW GmbH [2015] EWHC 1608 (Comm) (08 June 2015)

Marksans Pharma Ltd v Peter Beck & Partner VVW GmbH [2015] EWHC 1608 (Comm) (08 June 2015)

No misrepresentation was made by Marksans; Marksans was ready and willing to perform its obligations under the Settlement Agreement; any further steps for valid tender were dispensed with by PBP's refusal to perform; Marksans is entitled to specific performance and PBP's counterclaim is dismissed.

Source-derived case information.

Citation
[2015] EWHC 1608 (Comm)
Parties
Claimant: Marksans Pharma Limited; Defendant: Peter Beck & Partner VVW GmbH
Jurisdiction
England and Wales
Judgment Date
08 June 2015
Procedural Posture
Commercial Court Claim / Final Judgment After Trial
Outcome
Claim for specific performance granted; counterclaim dismissed.
Legal Topics
Specific Performance, Misrepresentation, Tender of Performance, Settlement Agreements
Contract Law Commercial Law Specific Performance Misrepresentation Tender of Performance Settlement Agreements

Source-derived case record

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Parties

Marksans Pharma Limited

Claimant

Peter Beck & Partner VVW GmbH

Defendant

Procedural Posture

Commercial Court Claim / Final Judgment After Trial

Legal Issues

  1. 1 Whether a misrepresentation was made by Marksans regarding repurchase of all outstanding bonds
  2. 2 Whether Marksans is entitled to specific performance of the Settlement Agreement
  3. 3 Whether PBP is entitled to rescind the Settlement Agreement or claim damages

Ratio Decidendi

No misrepresentation was made by Marksans; Marksans was ready and willing to perform its obligations under the Settlement Agreement; any further steps for valid tender were dispensed with by PBP's refusal to perform; Marksans is entitled to specific performance and PBP's counterclaim is dismissed.

Court Disposition

Claim for specific performance granted; counterclaim dismissed.

Orders

  • Marksans is entitled to an order for specific performance of the Settlement Agreement.
  • PBP's counterclaim is dismissed.