Press Release
| February 24, 2010
Dewey & LeBoeuf Represents Solar Energy Client Photonic Energy A/S
(London, February 24, 2010) — Dewey & LeBoeuf represented solar energy client Photonic Energy A/S, headquartered in Copenhagen, in connection with the settlement of a joint venture and commercial disputes relating to OEM contracts for solar modules. The firm also advised the company on the purchase of a 10 percent minority interest in relation to a Hong Kong subsidiary set up between a subsidiary of Photonic Energy A/S and Centrosolar Group AG, a solar energy company listed on the Frankfurt market. The settlement agreement and Photonic Energy A/S's acquisition of the shares in the Hong Kong subsidiary from Centrosolar were completed today.
Photonic Energy A/S is the holding company for a group of solar companies active in China, Germany and Denmark. Dewey & LeBoeuf has been acting for the China-based group of subsidiaries on the joint venture and commercial disputes since 2007, advising on the approach to take to handle the initial litigation (which involved claims and counterclaims in various jurisdictions including England, Hong Kong, Germany and China), parallel settlement negotiations and final settlement and the minority interest share purchase. Dewey & LeBoeuf is now assisting Photonic Energy A/S in choosing the right market for its contemplated IPO.
The Dewey & LeBoeuf team consisted of Frankfurt Partner Philipp von Ilberg, Hong Kong Partner Heng Loong Cheong, Local Partners Michael Neises and Peter Gray and Associate Vanessa Huang. London Partner Peter Crowther provided European competition law advice as part of the initial litigation. Stephen Wozencroft, a partner of the firm’s Hong Kong law licensed affiliate, Arthur Marriott & Associates, also provided assistance.
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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