Out of court settlement for fish farm patent infringement results in licensing agreement

GFA an Israeli company that has developed ecologically friendly sustainable fish farms sued New York based Local Ocean and the Senate group, on grounds of breach of contract.

According to the charges, in 2009 the Senate group and GFA set up a joint agreement to set up Local Ocean, under which GFA was supposed to provide the technology and Senate the logistics, support and management.  The company Local Ocean was supposed to reach 2500 tonnes a year.

GFA sued in the Tel Aviv District Court and, following negotiations by both sides, an out-of-court settlement was reached under which GFA will be paid the 4 million dollars over a period of years.

H.P. 9878-06-11 GFA vs. Local Ocean, Sanit Group et al., 13 June 2012 

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