Simpson Thacher represented French food group Danone in UNCITRAL international arbitration conducted in Singapore, governed by English law, against New Zealand dairy co-operative Fonterra, obtaining an award that Fonterra pay Danone €105 million (US$125 million) for a product recall in Asia Pacific that arose from a false, infant botulism contamination scare in August 2013.
Fonterra had reported to financial markets and provisioned in its financial statements a total of NZ$11 million (US$7.6 million) for the dispute, reflecting what it described as the “maximum contractual liability to Danone.” As a result of the €105 million award, Fonterra issued a profit warning downwardly revising its 2017-18 earnings forecast.
The Simpson Thacher team for Danone included Partner Tyler Robinson (Picture) and Retired Partner Robert Smit; and Associates Joshua Slocum, Alessia De Quincey and Lauren Brazier.
Involved fees earner: Tyler Robinson – Simpson Thacher & Bartlett; Robert Smith – Simpson Thacher & Bartlett; Joshua Slocum – Simpson Thacher & Bartlett; Alessia De Quincey – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;