Marksans Pharma Ltd v Peter Beck & Partner VVW GmbH

No misrepresentation was made by Marksans to PBP regarding the repurchase of all other outstanding bonds. PBP was not induced by any such representation and was not entitled to rescind the Settlement Agreement. Marksans was ready and willing to perform its obligations, and any further steps for tender were dispensed with by PBP's refusal to perform. Specific performance is therefore ordered.

Parties: Claimant: Marksans Pharma Limited; Defendant: Peter Beck & Partner VVW GmbH
Jurisdiction: England and Wales
Judgment Date: 08 June 2015
Procedural Posture: Commercial Contractual Dispute / Judgment After Trial
Outcome: Claim allowed; counterclaim dismissed
Legal Topics: Specific Performance, Misrepresentation, Tender of Performance, Settlement Agreements

Contract Law Commercial Law Specific Performance Misrepresentation Tender of Performance Settlement Agreements

Case Brief

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Parties

Marksans Pharma Limited

Claimant

Peter Beck & Partner VVW GmbH

Defendant

Procedural Posture

Commercial Contractual Dispute / Judgment After Trial

Legal Issues

1 Whether Marksans made a misrepresentation to PBP regarding repurchase of all other outstanding bonds
2 Whether PBP was entitled to rescind the Settlement Agreement for misrepresentation
3 Whether Marksans was entitled to specific performance of the Settlement Agreement

Ratio Decidendi

Court Disposition

Claim allowed; counterclaim dismissed

Orders

Specific performance of the third tranche of the Settlement Agreement ordered in favour of Marksans Pharma Limited
PBP's counterclaim dismissed