The is no doubt that any contract and relevant agreements with Agila/Mylan did require any disputes to be settled by arbitration in Singapore.
That by itself in my view does not activate legal action in this dispute[as Mylan probably hoped] and does not consider the publicly available less than stellar financial position of Phosphagenics at the time.The company would had to have the matter run by Corrs in the first instance for an opinion on the chance of success. Given the often quoted and continued legal disclaimer of no guarantee of a decision or award in favour of the company and the company's financial position it takes tenacity to carry on.
Legal action approved by the Board of Directors was required and action commenced.
I still can only see one company individual as previously mentioned raising the matter within the company and Corrs in the first instance.
Kens
POH Price at posting:
2.0¢ Sentiment: None Disclosure: Held
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