Dispute ends between PracSys and NASI

AuntMinnie.com staff writers
Jun 4, 2000

A contractual dispute between nuclear medicine firms PracSys and North American Scientific (NASI) of Chatsworth, CA, has ended after the arbitrator reviewing the case declined the claims of both parties.

The dispute originated in a 1998 deal between the companies in which PracSys agreed to build two linear particle accelerators for NASI. Work on the accelerators was not completed, and NASI demanded delivery of the uncompleted systems, leading PracSys to file the arbitration claim.

In addition to denying the claims from both parties, the arbitrator denied a claim by PracSys seeking to nullify NASI's ownership interest in PracSys. On the other hand, the arbitrator directed NASI to pay PracSys' legal and administrative costs related to the arbitration.

By AuntMinnie.com staff writers
June 5, 2000

Copyright © 2000 AuntMinnie.com

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