A long-running fight over the distribution of nearly $73 million in profits generated by a joint venture to make Humvees will continue, after the Delaware Court of Chancery ruled that a contract governing the arrangement was open to more than one interpretation.
The ruling by Vice Chancellor Joseph R. Slights III, on cross-motions for summary judgment by The Renco Group Inc. and MacAndrews & Forbes Holdings Inc., was the latest flashpoint in a five-year dispute between the two billionaire-owned firms, which partnered in 2004 to produce the military vehicles.
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