Court overturns $US920m award to DuPont

Reported by AAP
Friday, April 4, 2014

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A US federal appeals court has overturned a ruling that ordered South Korea's Kolon Industries to pay $US920 million ($A999.24 million) to rival US chemical giant DuPont for alleged theft of trade secrets.

In September 2011, a jury found Kolon had stolen DuPont's trade secrets on the manufacture of Kevlar aramid fibre and ordered the company to pay damages and interest.

But the Court of Appeals in Richmond, Virginia, found on Thursday that the district court had "abused its discretion, to Kolon's prejudice" and granted Kolon a new trial, according to a court document.

Kevlar is used in a number of products, including tyres, fibre optic cables and space suits.

26/07/2014 17:07Sydney, Australia. 26 July,2014