CAC 2000 Limited (CAC) has advised that on October 21, 2016, judgment was passed down in the X-ray Diagnostics lawsuit and that the court ruled in favour of the Claimant and awarded damages of US$372,100 and J$568,186.64 plus loss of profits of $7,077,874. Interest at commercial rates and legal fees were also awarded.
CAC further advised that on application, the court granted a stay of execution of 42 days and that its legal counsel is reviewing the judgment but, in the interim, the Compnay will be providing for these amounts (less the insurance amount of $20M) in their 2016 accounts.
