Japan’s Mitsubishi Motors Corp said on Wednesday a lawsuit brought against it by an Egyptian sales firm seeking damages of $900 million had been dismissed by an Egyptian court.
In the suit, filed in February, sales firm Masria Co had claimed that Mitsubishi’s termination of a distribution contract lacked reasonable grounds and demanded an extension of the contract or damages of $900 million.
Mitsubishi had argued that it had served a termination notice on Masria six months before the contract was due to expire, following agreed provisions.
Japan’s sixth-largest automaker said in a statement it would continue arguing its case if Masria appealed the court’s decision.
