Bax Global put US$1.4 million claim against Transclal Trade in a NY court

Bax Global put US$1.4 million claim against Transclal Trade in a NY court

Sources in Transclal said, however, that in accordance with its accounting the maximum amount Transclal owes Bax is not more than US$800,000
23.04.07 / 00:00
Bax Global put US$1.4 million claim against Transclal Trade in a NY court
23.04.07
Bax Global put US$1.4 million claim against Transclal Trade in a NY court

Sources in Transclal said, however, that in accordance with its accounting the maximum amount Transclal owes Bax is not more than US$800,000
 
Transclal Trade which had a close collaboration with BAX Global and had acted for more than 28 years as BAX Global exclusive representative in Israel, was informed last August that due to the take over by Deutsche Bahn AG .it will loose its exclusive representation.
 
Since the announcement in August 2006 both companies have kept permanent contact in order to settle mutual accounts.
 
Last week it was made known that despite continuous contacts, Transclal Trade were stunned to discover, via a third party, that Bax Global had submitted a legal claim in New York amounting to US$1.4 million for apparently unpaid debts.
 
The claim has not been received by Transclal.
 
Sources in Transclal said, however, that in accordance with its accounting the maximum amount Transclal owes Bax is not more than US$800,000.
 
Transclal on the other hand said it would put a counter claim for damages amounting to US$2.0 million arguing that Bax were in breach of contract.

 

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