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Medical Marketing International

  • BY: Andrew Hore |
  • POSTED: 04/09/2009 |

Medical Marketing International was unable to come to agreement with former executive chairman David Best over his claim relating to the ending of his employment and this has forced the board to place the company in administration.

The cancer treatments developer has appointed grant Thornton as administrator. MMI could not raise additional cash because of the spectre of the potential litigation by Best. MMI says that he is claiming “considerably more than” MMI’s financial resources, as well as much more than MMI believes is its maximum potential liability. 

Major shareholders had indicated that they might put more cash into the business but they did not provide any firm proposal.

Shares in MMI were suspended on 13 August 2009 at 3.75p each, which valued the company at £2.39m.

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