$500k settlement between major confectionaries approved by court
MOSCOW, February 17 - RAPSI. A commercial court has approved a settlement between major confectionaries under which Slavyanka agreed to pay $496,500 in compensation to the Red October Moscow Confectionary Factory for trademark infringement, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).
The payment will be made within 15 days after the court's approval of the settlement.
The Belgorod Regional Commercial Court also terminated proceedings in Red October's $10.3 million lawsuit against Slavyanka.
Red October maintained that Slavyanka breached its trademark rights by producing Alina chocolate from 2006 until September 5, 2008. The plaintiff claimed that Slavyanka's trademark bore a confusing similarity to its own trademarks.
Red October is part of the United Confectioners holding company, which comprises 15 food and pastry factories.
The Slavyanka Production Association was founded more than 70 years. It produces over 80,000 tons of confectioneries per year, and offers 400 varieties of products.