Haas team: the court refused to pay compensation to the Russian company
The American Formula 1 team Haas announced a victory in arbitration over the Russian company Uralkali. This became known from a message on the team’s official website.
“The Tribunal found that the sponsorship effectively terminated on the date Haas was notified of the termination and ordered Haas to retain a portion of the sponsorship fees for the period leading up to the termination and reimburse Uralkali for the remainder,” the press release said.
The Swiss arbitration court ruled that the team had a valid reason for breaking the agreement with Uralkali, related to the start of the SVO. Therefore, the Russian company was denied compensation for breach of contract.
Earlier, Uralkali said that an arbitration court in Switzerland awarded the company compensation in a dispute with Haas. The amount of compensation was not specified.
Source: Lenta
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