Common use of Litigation and Investigation Clause in Contracts

Litigation and Investigation. 12.1 Save as Disclosed and for (i) the contractual claims with Charisma, a former distributor based in Saudi-Arabia, where the Group as plaintiff has received a final award in favour of the Group and the Group has consulted a Saudi based law firm to enforce such final award in order to collect the amount of approximately EUR1 million in total; (ii) the contractual claims with Biofoodnutrition, a company based in the United Kingdom, where the Group as plaintiff has commenced legal proceedings against Biofoodnutrition originally and with total exposure of incoming claims of approximately EUR13.8 million and total exposure of outgoing claim of approximately EUR1.025k; and (iii) the contractual claims with Van Wijnen Groep, the main contractor of the construction of the new plant in Heerenveen, where the Group as plaintiff filed a claim for liability against Van Wijnen Groep for damages that amount to approximately EUR25.6 million, subject to further calculation of the damages by the Group, (a) no member of the Group is a party to, engaged or proposing to engage in any litigation, arbitration, mediation, prosecution or other legal proceedings involving an amount exceeding HK$10,000,000, and no litigation, arbitration, mediation, prosecution or other legal proceedings involving an amount exceeding HK$10,000,000 are outstanding, pending or threatened by or against any member of the Group; and (b) there is no order, decree or judgement of any court or Governmental Authority or regulatory body outstanding or anticipated against any member of the Group which may have or has had a material adverse effect upon the condition, financial or otherwise or the earnings, business affairs or business prospects (whether or not arising in the ordinary course of business) of the Group (taken as a whole) and which has a material and adverse effect to the implementation and completion of the Subscription. 12.2 So far as the Company is aware, no governmental or regulatory investigation concerning any member of the Group is in progress or is pending which may have a material adverse effect on the Group as a whole.

Litigation and Investigation. 12.1 Save as Disclosed and for (i) the contractual claims with Charisma, a former distributor based in Saudi-Arabia, where the Group as plaintiff has received a final award in favour of the Group and the Group has consulted a Saudi based law firm to enforce such final award in order to collect the amount of approximately EUR1 million in total; (ii) the contractual claims with Biofoodnutrition, a company based in the United Kingdom, where the Group as plaintiff has commenced legal proceedings against Biofoodnutrition originally and with total exposure of incoming claims of approximately EUR13.8 million and total exposure of outgoing claim of approximately EUR1.025k; and (iii) the contractual claims with Van Wijnen ▇▇▇ ▇▇▇▇▇▇ Groep, the main contractor of the construction of the new plant in Heerenveen, where the Group as plaintiff filed a claim for liability against Van Wijnen ▇▇▇ ▇▇▇▇▇▇ Groep for damages that amount to approximately EUR25.6 million, subject to further calculation of the damages by the Group, (a) no member of the Group is a party to, engaged or proposing to engage in any litigation, arbitration, mediation, prosecution or other legal proceedings involving an amount exceeding HK$10,000,000, and no litigation, arbitration, mediation, prosecution or other legal proceedings involving an amount exceeding HK$10,000,000 are outstanding, pending or threatened by or against any member of the Group; and (b) there is no order, decree or judgement of any court or Governmental Authority or regulatory body outstanding or anticipated against any member of the Group which may have or has had a material adverse effect upon the condition, financial or otherwise or the earnings, business affairs or business prospects (whether or not arising in the ordinary course of business) of the Group (taken as a whole) and which has a material and adverse effect to the implementation and completion of the Subscription. 12.2 So far as the Company is aware, no governmental or regulatory investigation concerning any member of the Group is in progress or is pending which may have a material adverse effect on the Group as a whole.