Cosette to pay Mayne Pharma $13.2m in legal costs
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The news: Mayne Pharma has been awarded $13.27 million in legal costs following the Supreme Court proceedings against Cosette Pharmaceuticals last year.
The context: This follows Mayne Pharma’s commencement of legal proceedings against Cosette last June seeking substantial damages on behalf of Mayne shareholders for an alleged breach of the scheme implementation deed.
The Supreme Court subsequently delivered a judgement in favour of Mayne Pharma, dismissing all of Cosette’s counter claims and required the company to pay Mayne Pharma’s legal costs.
On Friday, the Court ordered Cosette to pay Mayne Pharma a total of $13.27 million plus interest to cover those termination proceedings.
The source: ASX
