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Creative: Awarded S$36 Million In Legal Proceedings Against Huawei.

16 Aug 2017 16:03

In its judgment, the Court held that Huawei was liable for misrepresentation and was grossly negligent. It also held, in the alternative, that Huawei was liable for breach of contract. Consequently, the Court ordered Huawei to pay the Company and QMax the approximate sums of US$9.3 million and S$15.6 million with interest, such sums totalling approximately S$36 million inclusive of interest to date. Huawei's counterclaim for wrongful rescission and/or termination was dismissed. In addition, costs of the legal proceedings were awarded to the Company and QMax...

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Source: ShareInvestor Express