ALTADIS REQUESTS ARBITRATION TO RESOLVE ITS DISPUTE WITH
YAMAHA
Altadis has initiated arbitration proceedings, seeking substantial
compensation from Yamaha for the damages arising out of what
Altadis considers to be a material breach by Yamaha of the
two companies' two-year sponsorship agreement.
Altadis seeks both pecuniary damages and declaratory relief
with respect to particular obligations that Altadis maintains
have survived the termination of the parties' contractual
relationship.
Altadis has requested an urgent decision in this regard,
in the nature of an interim order obligating Yamaha to refrain
from collaborating with any sponsor whose products compete
directly with Altadis products for the coming season.
Altadis regrets that the negotiations to define the terms
of a settlement that would have resolved the dispute without
the need to resort to arbitration have proved fruitless.
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