Accsys terminated the agreement last year, alleging that Diamond Wood had failed to make progress on building Accoya modified wood plants in China and South-east Asia. Diamond Wood responded with a claim for damages of more than €100m.
The tribunal has now ruled that Diamond Wood can claim for only limited damages, up to €250,000, but that the company will continue to be responsible for all Accoya wood marketing and sales in the licensed territories in the Far East.
It is also obliged to resume its endeavours towards construction of an Accoya manufacturing facility in the region. This excludes Japan and South Korea, for which Accsys retains rights.
Accsys is reviewing the tribunal’s ruling, including its right to appeal.
The original licence was granted in 2007 and, after Diamond Wood’s lack of progress, it was amended and superseded on several occasions, the last time in August 2010.
