A court ruling by the International Chamber of Commerce has settled a four-year business dispute between Suzuki and VW, bringing a close to the companies’ failed partnership.
Business Gone Bad
Back in 2009, the automobile giants came to an accord to collaborate on fuel-efficient cars. However, the deal soured when Suzuki accused VW of concealing information that the company had previously agreed to share. Additionally, VW voiced objections to a Suzuki–Fiat deal, in which Suzuki planned to purchase diesel engines.
The Japanese automobile firm originally requested the sale of any VW shares back in 2011, when the business relationship seemed unsalvageable. VW immediately refused, adding fuel to the feud.
In the International Chamber of Commerce ruling, it was determined that VW should sell the nearly 20 percent stake it has in Suzuki. VW initially purchased the Suzuki shares to help gain access to the Indian automobile market, where Suzuki was a leader at the time.
As the ruling draws a sour business dispute to a close, both automobile manufactures have indicated that there are no future plans to collaborate.
When questioned about any future partnership, Osamu Suzuki, chairman of the firm, commented that you don’t “remarry someone you have divorced.”
Business Disputes in Oklahoma
Business disputes can feel a lot like divorce. These types of cases can come in many forms, and typically involve business structures such as Limited Liability Companies, Partnerships, Trusts, Franchises, Corporations Agencies and Limited Liability Partnerships.
Regardless of the type of business entity, many of these businesses involve two types of partners – one who came up with the idea and developed a plan, and one that provides the financial support.
Many cases start with one or the other partners being phased out. Disputes arise where one partner completely shuts out their fellow partners or company shareholders. Financial partners believe that money carries power, and a right to the majority of the financial gains. However, there are laws that say otherwise, and they help protect all contributions that partners make to a business.
If you have found yourself in a situation involving some type of business dispute, it is important that you consult with an attorney who is an expert in business, and who understands how to take control in the situation and protect your rights as a business partner.
At Rick Dane Moore and Associates, our attorneys are experts in business law, and have successfully settled many business disputes in the past. Not only do we have more than 30 years collective experience, but our team consists of subject matter experts, who can provide the sound advice you need regarding the nuances of business law. We will work with you to alleviate your anxiety and uncertainty regarding your business investment.
We welcome your call today. For additional information regarding business law and our services, or to schedule your initial consultation, call us at (405) 366-0373.