Société Nihon Plast Co. v. Société Takata-Petri Aktiengesellschaft

 

Nihon Plast (Japanese company) manufacturer of steering wheels and airbags for the automotive industry, entered into a know-how agreement  with TKP(German company) with the purpose of transferring their know-how of manufacturing steering wheels and airbags for Honda and Nissan cars. TKP initiated arbitration claiming breach of agreement and pretending damages. The sole arbitrator appointed by the ICC ruled out that Nihon Plast is liable to pay €29,529,027.75 in damages. Nihon Plast initiated three actions for annulment of the award which have been joined together. The Court of Appeal of Paris dismissed all of the claims brought by claimant, upholding the award.

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