Apollo Tyres Ltd had sought the intervention of a judge to dismiss the lawsuit filed by Cooper Tire & Rubber Co. The initial suit was filed to move the planned USD2.5 billion takeover, which Cooper claims has been hampered by Apollo Tyres non-compliance with agreed upon obligations.
According to Apollo, Cooper has been 'unable for a matter of months to access basic financial material about a significant portion of its business.' This was alleged to be in violation of the contract, allowing for the dismissal of the suit as well as cancellation of the trial date of the 5th of November until the 7th of November. This were all included in the letter sent by Apollo lawyer Raymond DiCamilo dated last October 18 to Delaware Chancery Judge Sam Glasscock III.
For its part, Cooper's lawyer Stephen Norman replied to the said letter, maintaining that the trial date should continue. He said, "This court had already twice rejected the very same legal argument. There is no reason for the court to reconsider,"
There was no immediate ruling made on the motion of Apollo Tyres.
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