Mr. Chemours then argued that the determination of the arbitration was materially and procedurally unacceptable. First, Chemours argued that the content of the arbitration provision was unacceptable, as it required Chemours to charge the alleged costs of challenging DuPont`s awarding of environmental commitments. However, the Tribunal justified this decision on the fact that the arbitration decision itself had to be unacceptable in order to invalidate an arbitration agreement. These were the burdens and costs associated with challenging the debts, not the power of the arbitral tribunal to determine the ability to arbitrate, and was therefore not relevant to the Court`s analysis. At the time of the separation agreement, Chemours was a wholly owned subsidiary of DuPont and all parties involved, including the vice-president of Chemours who signed the agreement, were DuPont employees who owed their loyalty to the parent company and its interests. HOUSTON (ICIS)–The CEO of DuPont said Tuesday that his company will likely renegotiate its separation agreement with Chemours. Vice-Chancellor Sam Glasscock III decided on Monday that he was not competent to hear the case, because the separation agreement between the companies clearly states that all disputes arising from the separation are subject to mandatory arbitration. The agreement will also be accepted for several years, he said. “We`re going to renegotiate the agreement we have between companies,” he said.
“There are some very important guides in every agreement we can get, which are important to us.” Daniel Turner, a spokesman for DuPont, said the verdict dispelled any doubts about Chemour`s compensation obligations. “We will take appropriate steps to enforce our rights under the separation agreement,” Turner said in an emailed statement. DuPont issued a statement stating that it was satisfied with the judgment and would take steps to enforce its rights under the separation agreement. (Bloomberg) — Chemours Co. must use arbitration to resolve a dispute with former parent company DuPont of Nemours Inc. over environmental commitments transferred to separation when chemical manufacturers were separated in 2015, a judge ruled. Delaware Chancery Court Judge Sam Glasscock III entered into a valid compromise clause in the separation agreement that requires all litigation outside of ordinary courts to be heard.