Kluwer: Award Rendered in Multimillionaire Chilean Salmon Saga: Hot Topics and Set-Aside Key Aspects

The salmon industry is one of the most important industries in Chile. In 2019, Australis Seafood (“Australis”), a major salmon producer, was acquired by Joyvio (“Joyvio” or the “Buyer”), which is part of the Chinese group Legends Holding Corporation, for approximately USD 920 million, via the execution of a purchase agreement (“SPA”) between the Buyer and a group of Chilean companies that owned Australis (“Sellers”). In the SPA, Sellers made several representations and warranties (“R&W”), granting Joyvio the possibility to claim indemnification if these were inaccurate.