DCC has won a breach of contract lawsuit against a Taiwan-based company that will net the company around €20.5 million in damages.
A Taiwan court has upheld an early judgment by a London court that ordered Pihsiang Machinery Manufacturing to pay Days Healthcare, DCC's British-based subsidiary, damages of £10.2 million and interim costs of £2 million together with interest of £1.8 million, bringing total damages to £14 million (€20.5 million).
The case arose as a consequence of the breach by the defendants - Donald Wu, Pihsiang's chairman and major shareholder, and Jenny Wu, his wife and a director - of a long-term product supply agreement with Days Healthcare.
The defendants are entitled to lodge an appeal against this judgment to the Taiwan High Court.
