UK finance firm opposes lawsuit against $ 1.3million drug developer

By Silvia Martelli (January 4, 2022, 12:15 GMT) – Financial services company battles $ 1.3 million lawsuit by Swiss drug developer, claiming it did not have to pay profits made by the pharmaceutical company in exchange for currency contracts because they would have been entered into for speculative purposes.

Ebury Partners UK Ltd. said in its defense, filed in the High Court on December 20 and now made public, that Carbogen Amcis AG violated its terms and conditions by entering into 2020 foreign exchange contracts for speculative purposes. This allowed Ebury not to pay Carbogen for the profits made, according to the court document.

Carbogen said in …

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