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© western digital Business | June 06, 2017

Western Digital to continue with arbitration process

Toshiba Corp. will transfer back the three NAND flash-memory joint ventures operated with Western Digital from Toshiba Memory Corporation (TMC).
"Toshiba’s representation that it will 'revert to itself' the JV interests from TMC confirms Western Digital’s position that any attempt by Toshiba to transfer those interests would breach SanDisk’s contractual consent rights. Toshiba’s new action does not resolve SanDisk’s claims in the pending arbitration; in fact, Toshiba has simply replaced one attempt to circumvent SanDisk’s consent rights with another. The arbitration will therefore continue", writes Western Digital in a statement.

On May 14, 2017, Western Digital announced that several of its SanDisk subsidiaries filed a Request for Arbitration with the ICC International Court of Arbitration related to three NAND flash-memory joint ventures operated with Toshiba. The arbitration demand seeks, among other things, injunctive relief preventing Toshiba from further breaching the JV agreements by transferring its JV interests, or any interest in an affiliate that holds its JV interests, without SanDisk’s consent.

Per the provisions of the joint venture agreements, the arbitration will take place in San Francisco, California.

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July 08 2017 11:27 AM V8.5.6-1