InvestorQ : Is it true that the Amazon FRL case now goes to the Singapore Court?
Mitali Bhutta made post

Is it true that the Amazon FRL case now goes to the Singapore Court?

Answer
image
1 month ago
Follow

With Future Retail stores now already taken over by Reliance in its capacity as an operational creditor, there is not much left except the rhetoric and the eventual insolvency of the Future group. However, Amazon and Future Retail have confirmed to Supreme Court that they will jointly appear before the Singapore International Arbitration Centre (SIAC).

Explaining the rationale of what happened in the last few weeks, FRL counsel, Harish Salve, underlined that FRL was extremely likely to go into NCLT insolvency. As a result, most of the customers and vendors refused to deal directly with Future Retail. Salve was explaining the reason for handing over outlets to Reliance Retail, something Amazon has been crying hoarse over.

4 Views