Arbitration update: interim order dismissed, advertising agreement ends
UFO · price
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UFO Moviez was in arbitration with TSR Films over an in-cinema advertising agreement from December 2023. The Sole Arbitrator dismissed the company's interim application on technical grounds, withdrawing the earlier status quo order. The advertising agreement now stands terminated. No costs or damages have been imposed. The order does not decide the main case; claims and counterclaims remain pending. The company says the arrangement was loss-making on net level due to execution issues at TSR's end, so no material adverse impact on operations or finances is expected.
Company sees no material impact since the arrangement was loss-making. Main arbitration claims remain pending and unaffected.