Partner Stephen Goodman was recently interviewed by PharmaWire for its article about the litigation between Nobel Biocare and ISC Holdings entitled “Nobel potentially owes ISC USD 272m for AMF agreement; attorney says former treasurer bound company to agreement.”

The article states that Nobel Biocare may have to honor its asset management and facilitation (AMF) agreement with ISC Holdings, on the basis that the former’s previous corporate treasurer had the apparent authority to bind Nobel to the agreement. On January 21, 2008, Nobel and ISC entered into the AMF, which was signed by Nobel’s former corporate treasurer, Martin Gerber. The agreement appointed ISC to act as Nobel’s asset and investment manager for certain assets and for future assets. A Netherlands judge has apparently ruled that Nobel owes ISC $272 million.  

Asked to comment on the decision, Goodman told PharmaWire that the facts suggest that ISC reasonably relied on Gerber’s apparent authority and that Nobel was aware of the contract because it benefited from the agreement. Goodman explained that if Nobel actually benefited from the contract, but did not pay, an American court would hold Nobel liable for the agreement.

To learn more about the case and read the article in its entirety, please click here.