Innophos wins full indemnity from Rhodia

摘要

INNOPHOS HOLDINGS, Inc. announced this week that New York State's highest court unanimously affirmed indemnification judgments which Innophos had previously won against Rhodia, S.A. in two lower courts. In a 7-0 ruling, the New York Court of Appeals upheld Innophos' position that claims asserted by the Mexican National Waters Commission (CNA) for water extraction were "taxes" for which Innophos was entitled to be fully indemnified under a 2004 acquisition agreement. The ruling is not subject to further appeals.