3VB Triumphs in SPA Dispute

Rajesh Pillai and Nathaniel Bird, instructed by RPC, have secured a multi-million dollar breach of warranty judgment for leading US aerospace conglomerate Triumph Group, against Fortune 500 member, Precision Castparts Corporation (PCC). Following a five-week trial last year, the Court found a breach of the forecast warranty in a share purchase agreement relating to the sale of an aerospace composites manufacturing business with facilities in the UK and Thailand. After a further hearing on quantum in July this year, the Court dismissed PCC’s case that Triumph had suffered no loss as a result of the breach and awarded Triumph damages of over USD 4 million. The Judgments can be viewed here ([2019] EWHC 565 (TCC)) and here ([2019] EWHC 2216 (TCC)).