A 10-year legal fight between Saskatoon inoculant maker Philom Bios and chemical firm Dow AgroSciences Canada has ended at the Supreme Court of Canada’s doorstep.
Philom Bios reported Friday that the country’s top court has dismissed Dow Agro’s application for leave to appeal an April 2007 ruling by an Alberta appeals court, in a dispute between the two companies dating back to 1997.
The dispute stems from the end of the two companies’ marketing agreement at that time, and a resulting inventory of expired inoculants. Philom Bios was ordered in July 2005 to pay Dow Agro over $944,000, plus costs and interest worth about $375,000.
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The Alberta decision in April had upheld the judgment against Philom Bios but knocked back the size of the award to Dow Agro, allowing Philom Bios to recover over $700,000, the Saskatoon company said.
Philom Bios, which in late October announced plans for a $25.6 million friendly takeover by Danish enzyme firm Novozymes, said in a release that as a result of the Supreme Court’s dismissal, “all legal recourse in this matter has been exhausted and this matter is now closed with no further gain or loss to the company.”
