Business
Court Award
Court Award.
About this update from Symphony Environmental Technologies Plc
[{"type":"text","content":"\n Symphony Plastic Technologies PLC\n30 January 2006\n\n\n\n Symphony Plastic Technologies PLC\n\n Judgment in the Court of Appeal\n\n\nSymphony Plastic Technologies ('Symphony'), the degradable plastics company,\ntoday reports that the formal handing down of the Judgment by the Court of\nAppeal has taken place following the Appeal brought by EPI Environmental\nProducts Inc ('EPI') against the Judgment of the High Court of 21st December\n2004 in favour of Symphony.\n\nIn addition to documenting the reasons for its decision (announced on 19th\nDecember 2005) to dismiss the Appeal, the Court also considered the question of\ncosts. Symphony has been awarded its full costs for the Appeal which are to be\nassessed against EPI on an indemnity basis. In addition, an interim award to\nSymphony of £600,000 was ordered for immediate settlement from funds previously\nlodged by EPI with the Court as security for Symphony's costs.\n\nMichael Laurier, Chief Executive Officer of Symphony, said:\n'The dismissal of all aspects of EPI's Appeal in December has now been clearly\nreflected in the Court's decision on the award of costs to Symphony. Now that\nthe legal process on the central issues is largely completed we are very pleased\nto be able to re-focus our attention on the opportunities facing us'.\n\nFor more information, please contact:\n\nFor further information:\nSymphony Plastic Technologies Plc\nMichael Laurier, CEO\nAllan Blacher, COO +44 (0)20 8207 5900\n\nCitigate Dewe Rogerson\nPatrick Toyne Sewell / Ged Brumby +44 (0)20 7638 9571\n\nFurther information on Symphony Plastic Technologies plc\n\nSymphony develops and supplies environmentally responsible plastic packaging\nproducts and additives, which are distributed primarily to the retail, local\nauthority and health related sectors. The Group's main technology, d2w(R),\nallows plastic to degrade, leaving only water, a minimal amount of carbon\ndioxide and trace amounts of non-toxic biomass over a short time period. The d2w\n(R) product range now includes additives, carrier bags, refuse sacks, mailing\nwrap, stretch film, and packaging films.\n\nSymphony has a strong blue-chip customer base in the UK and has successfully\nestablished itself as an international business after signing distribution\nagreements with companies in Brazil, Canada & USA, New Zealand, South Africa,\nth...