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RedHill Biopharma Ltd. (NASDAQ: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that the New York Supreme Court's summary judgment in favor of RedHill against Kukbo Co. Ltd ("Kukbo") is now final and eligible for enforcement and foreign recognition, with no further appeal permissible following expiry of the appeal period.
The Court has awarded more than $10.5 million in total to RedHill, comprised of the main judgment of approximately $8.6 million, now final and eligible for enforcement, and the award for legal fees and expenses of approximately $1.9 million (both include the principal amounts and accrued interest, to date) which remains subject to appeal until March 13, 2026. 9% annual statutory interest continues to accrue on both awards.
In addition, RedHill has secured a Korean court attachment grant against Kukbo aimed at preventing Kukbo from disposing of assets prior to judgment enforcement.
Posted In: RDHL
