InvestorQ : What is the likely outcome now of the Amazon / Future group legal battle?
sarah Leo made post

What is the likely outcome now of the Amazon / Future group legal battle?

Answer
image
Rashi Mehra answered.
2 months ago
Follow

Amazon plans to initiate criminal proceedings against Future Retail for allowing the transfer of assets to Reliance. Apparently, Future group has already assigned 500 of its stores to Reliance as it could not pay the lease rentals any longer. It may be recollected that the $3.4 billion deal between Future group and Reliance had been hanging for quite some time due to objections raised by Amazon.

While Future group denies any wrongdoing, Amazon’s current stand is supported by the Singapore International Arbitration Centre (SIAC). Reliance Retail had already been supply stocks to most of the Future group stores. Amazon feels this acquisition is a back door entry. Meanwhile, Supreme Court has given both parties one last chance to negotiate an out of court settlement, a deal in which both the parties are interested.

11 Views