UK Finance Firm Fights $1.3M Drug Developer's Suit

By Silvia Martelli (January 4, 2022, 12:15 PM GMT) -- A financial services company is fighting a $1.3 million lawsuit brought by a Swiss drug developer, saying it did not have to pay profits made by the pharmaceutical company under currency exchange contracts because they were allegedly entered into for speculative purposes.

Ebury Partners UK Ltd. said in its defense, filed at the High Court on Dec. 20 and now made public, that Carbogen Amcis AG violated its terms and conditions by entering into some 2020 currency exchange contracts for speculative purposes. This entitled Ebury to not pay Carbogen for the profits made, according to the court document.

Carbogen said in...

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