Xerox Canada told to pay MPI Technologies $89 million US plus interest
TORONTO – An
arbitration tribunal has awarded $89 million US plus interest to MPI
Technologies as the result of a contract dispute between it and Xerox
Canada, a wholly owned subsidiary of the photocopier and printer giant.
Xerox Canada said Friday it and parent Xerox Corp. are reviewing the tribunal’s decision and expect to seek a judicial review.
In the meantime, Xerox Corp. expects to accrue a pre-tax charge of
approximately $89 million US, plus any interest, in the third-quarter
The dispute is related to a licence agreement from March 15, 1994, between MPI and Xerox Canada Ltd.
MPI had claimed damages of $68.9 million US for royalties owed under
the agreement, $35 million US for breach of fiduciary duty, $35 million
in punitive damages and unspecified damages with respect to alleged