Corum ordered to pay $766,000 in case brought by former Executive Director
Pharmacy software supplier Corum Group has just disclosed a Supreme Court judgement on 25 March which awarded damages of $627,000 against the company.
The ruling relates to a case brought by former Corum Executive Director, Michael Rowley, whose company sued Corum for termination of a consultancy agreement entered into for four years from September 2005.
The company said it’s been seeking legal advice on the prospects for an appeal since the judgement was delivered, and received a demand for payment last Friday.
Corum said it hadn’t made any provision for the judgement debt in its accounts, but in the event that an appeal does not proceed or fails, it’s in a position to pay the damages which total approximately $766,000 plus costs.
“Directors regret this matter has not been previously disclosed,” the statement said, with chairman Michael Shehadie reiterating that Corum has returned to profitability under new management, with “solid cash flows from operations expected to continue”.
More information in tomorrow’s Pharmacy Daily.