Futuresoft files application to set aside $6.5 million judgement
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Lawyers for machinery supplier Futuresoft Technologies Inc. (FTI) have filed an application to set aside a $6.5 mil...
Lawyers for machinery supplier Futuresoft Technologies Inc. (FTI) have filed an application to set aside a $6.5 million judgement rendered against FTI in a dispute between that company and St. John’s, Nfld.-based wood-plastics composite (WPC) start-up Newlab Plastics Ltd.
The application was filed with the Supreme Court of Newfoundland and Labrador on June 6, 2006, and is scheduled to be heard on July 28, 2006.
In May, 2006, Newlab won a lawsuit in the court of Newfoundland and Labrador against Dr. Weining (Wayne) Song and FTI formerly based in Mississauga, Ont., and now relocated to Manalapan, N.J. for fraudulent misrepresentation after Newlab received damaged and unsuitable WPC equipment from FTI between October 2004 and August 2005.
In its application, FTI alleges that it was not given sufficient time to respond to Newlab’s original lawsuit. FTI also alleges that the damage to the WPC equipment was brought about by Newlab’s own negligence in failing to follow the manuals and proper operating procedures, and that Newlab owes FTI the balance of $205,464.65 on account.
“Before and after (Newlabs’) projects, FTI has successfully installed and operated WPC systems in China and France(and) all are happy about FTI and its technology and machinery. The WPC system delivered to (Newlab) works well. FTI can show how to operate it to any interested parties,” FTI said.
“We expected this application,” Chris O’Brien, COO of Newlab, said. “This does nothing to change anything. We have a judgement and we are going to enforce the judgement until it is overturned.”