Thursday, May 26, 2022

London court rules in PCB’s favour against Techfront and Blitz


LAHORE: The Pakistan Cricket Board on Tuesday confirmed that it has received the final awards of the arbitration proceedings initiated by it against Techfront International FZE (Techfront) as well as the two separate arbitrations filed against it by Blitz Advertising (Pvt) Limited before the London Court of International Arbitration (LCIA), and the outcome of all arbitrations are in favour of PCB.

The dispute relating to Techfront International FZE (Techfront) was on default of rights fee payments due in respect of the Television Broadcast and Live Streaming Media Rights Agreements of the HBL Pakistan Super League (PSL), while the disagreement with Blitz Advertising was, inter alia, on the delayed television broadcast and live streaming media rights fee payments for HBL PSL 2020 matches.

In the arbitrations, the sole arbitrator appointed by the LCIA dismissed Techfront and Blitz Advertising’s claims and directed both entities to pay to the PCB rights fees due to be paid to PCB as claimed, as well as the costs claimed by the PCB in lieu of counter-claims, damages, arbitration, legal costs, and and other miscellaneous expenses incurred.

All awards have been issued in accordance with the laws of Pakistan as well as LCIA Rules under which every award shall be final and binding on the parties and by virtue of the arbitration agreement, the parties undertake to carry out any award immediately and without any delay.

Source: The News

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