Source: Smart & Biggar/Fetherstonhaugh via International Law Office 31 July 2017
“The Federal Court has issued its further judgment and reasons (2017 FC 637) concerning the amount of financial compensation to be paid to Dow Chemical Company as a result of earlier patent infringement and validity proceedings against NOVA Chemicals Corporation (for further details please see “Dow succeeds on major issues in patent infringement profits case“).
The final award totals over C$645 million (including pre-judgment interest), which is the largest reported award in a Canadian patent infringement case.”
Source: reuters.com 09.01.2017
On January 9th 2017 the U.S. Supreme Court declined to hear Dow Chemical Co’s bid to revive its claim to more than $1 billion in tax deductions based on partnerships the company entered into, that lower courts said were created primarily to avoid tax liability and had no legitimate business purpose.
The justices left in place two rulings by the New Orleans-based 5th U.S. Circuit Court of Appeals in favor of the U.S. government over the two partnerships that ran from 1993 to 2003.
The lower courts agreed with the Internal Revenue Service that Dow did not deserve the tax benefits, and also imposed a 20 percent penalty for negligence and substantial understatement of taxes.