Brief: Bluechiip Says Labcon North America Provided Notice To Terminate Chip Supply Deal
16/07/2020 02:11
July 16 (Reuters) - Bluechiip Ltd BCT.AX :
* LABCON NORTH AMERICA PROVIDED NOTICE TO CO PURPORTING TO
TERMINATE CHIP SUPPLY AGREEMENT
* CONSIDERS THAT TERMINATION IS UNLAWFUL
* LABCON ALSO ASSERTED IN ITS CORRESPONDENCE A CLAIM FOR
DAMAGES
IN REGION OF US$500,000
* ASKED LAWYERS TO PURSUE ALL RIGHTS, INCLUDING RECOVERY
FROM
LABCON OF AN OUTSTANDING BALANCE OF US$3.5 MILLION
Source text for Eikon: ID:nASX5qJZ2J
Further company coverage: BCT.AX
((Reuters.Briefs@thomsonreuters.com;))
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