Hearing for ZEE-Sony set to take place in Singapore International Arbitration Centre
Sony Pictures Networks & ZEEL
The hearing in the ongoing spat between ZEE and Sony will take place at the Singapore International Arbitration Centre (SIAC) on Wednesday 31st January, according to CNBC-TV18.
The emergency arbitration hearing was scheduled after ZEE initiated legal action to contest Sony’s claim of $90 million as a termination fee for the failed USD 10 billion merger.
On 22nd January, Sony terminated its proposed merger with ZEE as the broadcasting giant did not satisfy the merger conditions despite engaging in discussions to extend the end date for consummation of the transaction.
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