Swiss Arbitration Decisions

The ENUSA decision of the Federal Tribunal, which is the Supreme Court of Switzerland, related to a dispute between a Spanish company and an American company arising from a Marketing Agreement of August 1, 2003. The Marketing Agreement had been concluded between SHS CERAMICAS S.A., a Spanish company, which subsequently assigned its claim to ENUSA Industrias Avanzadas S.A. and LIPO CHEMICALS Inc. of New Jersey.