Lithium Australia sues Lepidico in Supreme Court of WA

Company News

by David Chau

Lithium Australia (ASX:LIT) has sued another lithium exploration company Lepidico Ltd (ASX:LPD) in the Supreme Court of Western Australia.

Lithium Australia is seeking declarations from the Court that it has the right to exploit a lithium extraction process called ‘SiLeach’.

Lepidico has filed a defence and counterclaim to this action. And in its counter-claim, Lepidico alleges that Lithium Australia developed the SiLeach process without authorization – exploiting Lepidico’s intellectual property in its L-Max technology.

Also, Lepidico alleges that Lithium Australia took advantage of confidential information which was disclosed to it, and breached a number of clauses under a Licence Agreement between them.

Lithium Australia posted a net loss of $1.8 million at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.