LAHORE: London Court of International Arbitration (LCIA) has reportedly ruled in favor of the Pakistan Cricket Board (PCB) in the arbitration proceedings initiated against Techfront International FZE (Techfront) and Blitz Advertising PVT. Limited.
According to reports, the dispute relating to Techfront International was on default of rights fee payments concerning the Television Broadcast and live streaming media rights agreement pertaining to the HBL PSL (Pakistan Super League). Meanwhile, the dispute with Blitz Advertising was on the basis of delayed live streaming media rights fee payments for HBL PSL 2020 matches.
The LCIA’s arbitrator reportedly dismissed the claims by Techfront and Blitz and ordered them to pay the PCB its “rights fees rightfully due to be paid to PCB in lieu of counter-claims, damages, arbitration, and legal costs” including miscellaneous expenses. According to reports, the Chief Operating Officer of PCB, Barrister Salman Naseer has said that the decision comes as a ‘major triumph for the PCB as the national sports body has successfully claimed “substantial revenues of the HBL Pakistan Super League”.
Naseer added that the LCIA directive indicates the ‘air-tight’ nature of the contracts adding that the PCB will take any measures necessary to ensure the protection of “the HBL PSL brans as well as the interests of our franchises”.
According to reports, the awards have been issued in accordance with Pakistani laws and reviewed under LCIA regulations, thereby, binding the parties involved by virtue of the arbitration agreement.
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