Bouchard Orders Pa. Pharma Services Firm to Turn Over $4.6M Tax Refund
The Delaware Court of Chancery has ordered a Pennsylvania-based pharmaceutical-support services firm to turn over a $4.6 million tax refund that it had withheld from a deal partner.
May 24, 2017 at 07:33 PM
3 minute read
The Delaware Court of Chancery has ordered a Pennsylvania-based pharmaceutical-support services firm to turn over a $4.6 million tax refund that it had withheld from a deal partner.
On Tuesday, Chancellor Andre G. Bouchard granted United BioSource's claim for specific performance against Bracket Holding Corp., finding that money damages would fail to remedy the harm of being denied the funds since August 2016.
Bracket, headquartered in Wayne, Pennsylvania, had been holding the funds through a subsidiary while unrelated litigation between the two firms played out in Delaware Superior Court.
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