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MediVac defends appeal in $110k funds dispute

MediVac defends appeal in $110k funds dispute

Medical technology developer MediVac (ASX:MDV) has announced it has successfully defended an appeal lodged by former director Paul Ralph relating to a payment dispute.

A federal court judge in July ruled that MediVac subsidiary Diakyne was entitled to recover a $110,000 payment given to Paul Ralph, as well as his investment company Colorado Investments. Ralph appealed this decision.

But the court yesterday dismissed this appeal, also awarding costs in favour of Diakyne.

As part of the original orders, Ralph must also pay $17,212 in interest and a yet-to-be-assessed sum to cover MediVac’s legal costs.

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Tags e-healthBiotechcourt actionMediVac

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