London – LAWFUEL – News Release Network – DLA Piper Rudnick Gray Car…

London – LAWFUEL – News Release Network – DLA Piper Rudnick Gray Cary UK LLP (“DLA Piper”) has advised QXL ricardo plc on its agreement to settle litigation in Poland in relation to its former subsidiary, QXL Poland. Subject to approval by QXL ricardo plc’s shareholders at an EGM to be held on 24 July 2006, QXL ricardo plc will acquire undisputed ownership and control of QXL Poland and will issue ordinary shares as part of the settlement.
QXL ricardo plc provides an online trading platform in nine European countries, principally in Switzerland, Denmark and Norway. QXL Poland and the other members of its group comprise a number of trading platforms and related internet businesses primarily in Poland and to a minor extent in the Czech Republic, Ukraine and Hungary.
The DLA Piper team comprised corporate partners Kate Francis and Charles Severs, who were assisted by David Gerber and Sarra Adams and Mark Chivers.
Charles Severs commented: “We have worked with QXL ricardo for a number of years and are absolutely delighted that the management team’s dedication has resulted in this settlement. The team has worked tirelessly to turn the QXL business around and the benefits of this effort are now clear for all to see.”

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