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09/01/2006, 20h15
Communuqué Gauloises
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.
9 January 2006
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Mode arborescent