Courts / Ireland / Report
Legal row over milk formula company for Chinese market resolved
Summary
In a High Court case involving BM Formula Ltd, a company set up to sell baby milk formula to China, two shareholders, Paschal Bergin and Sean Bradshaw, obtained injunctions against fellow shareholders Patrick Flanagan and Frans de Ru. The injunctions barred Flanagan and de Ru from marketing, dealing in, selling, or promoting the company's formula, and from alienating any interest in the firm. Bergin later posted a €1 million bond to cover potential damages. On 27 January 2015, the parties reached an agreement. The court granted a permanent order restraining the respondents from marketing, dealing in, or selling any baby and infant milk formula known as BMP, and ordered the €1 million bond to be paid out. €350,000 was allocated to each defendant for their shares, €50,000 to a third party, and €250,000 to the solicitors. All prior orders were vacated and the proceedings were struck out with liberty to apply.
Who, what, where, when and why
What: Report matter: Legal row over milk formula company for Chinese market resolved. Procedural stage: hearing_or_decision
When:
- August 2013 Hearing Or Sentence
- 2015-01-27 Publication
Why: The defendant's lawyers denied this and claimed the petitioners set up a cloned company in order to hive off the assets of the firm, which they (the defendants) would not derive any benefit from. CNI source report
Case subjects
Applicant
Outcome: struck out
Applicant
Outcome: struck out
Places mentioned
- High Court
- Ru. The High Court
Topics
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