Swatch Group: Tiffany Arbitration Award Set Aside
Biel / Bienne (Switzerland), March 4, 2015 – Swatch Group confirms that the arbitration award issued on December 21, 2013, was set aside today by the ordinary court of first instance (District Court) of Amsterdam. The setting aside has been undertaken on purely formal reasons which are fully contested by The Swatch Group Ltd.
Swatch Group will file an appeal at the Court of Appeal. Swatch Group is convinced that the arbitration award of December 21, 2013 was issued correctly and contains no formal error.
Until the final decision of the last instance (Supreme Court of The Netherlands), the judgement of the ordinary court of first instance is not enforceable and has no material consequences for The Swatch Group Ltd.
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