9 Jun 2010

$1 million compensation awarded to Comvita

8:55 pm on 9 June 2010

Listed health products company Comvita has been awarded $1 million in compensation following a dispute with the commercial arm of Waikato University, WaikatoLink.

The dispute relates to the purchase of some intellectual property that Comvita bought from the university relating to the properties of manuka honey in 2006.

A High Court ruling found Waikato Link misled Comvita during the negotiations leading up to the signing of the licence agreement between the two parties and ordered the compensation be paid.