MAINBOARD-listed Cordlife Group has reached an "amicable" legal settlement with fellow cord blood banking firm Cryoviva Singapore, with regard to the latter's "passing off and infringement of Cordlife's registered trademarks and copyrights".

Cryoviva will pay Cordlife damages for trademark and copyright infringement and the passing off of Cordlife's information on its websites. The extent of both cases of infringement and the quantum of damages will be assessed by the Singapore High Court, if not agreed by both parties.

Cryoviva will also pay Cordlife the total costs of the suit to date and the injunction application, if not agreed by both parties. A Cordlife spokesman said that as the company had yet to receive the billing from its legal advisers, it was unable to comment on suit costs.