Romania’s state-owned broadcaster TVR won an international commercial arbitrage against American production and movie license company New Films International, which had claimed EUR 5 million in damages.
On May 5, the California Court of Arbitrage, constituted under the aegis of Independent Film & Television Alliance (IFTA), a permanent arbitral institution specialized in resolving the disputes in the cinematographic and media industry, has rejected totally the restitutions amounting to over EUR 4 million.
The American company claimed that TVR had breached certain contract provisions on the acquisition of certain TV series.
Under the deal which was operational in the last five years, TVR had to buy the TV series, as long as they were produced.
Law firm Musat&Asociatii worked for TVR on this case.
Romanita Oprea