Latest news with #arbitration
National Post
a day ago
- Business
- National Post
Canada Goose Provides Update on Arbitration Proceedings
Article content TORONTO — Canada Goose Holdings Inc. (NYSE:GOOS, TSX:GOOS) announced today that an arbitrator has awarded financial compensation to a former vendor in connection with a previously announced commercial dispute. The case relates to the termination of a contract in 2021, and the award communicated today has resulted in a one-time financial charge of approximately $30 million USD. Article content Canada Goose disagrees with the legal basis for this award and is assessing available options. Article content Article content This judgment is not related to current vendor relationships or ongoing business operations. Canada Goose maintains strong global partnerships with its vendors and this matter is not expected to have any material impact on the company's long-term financial position or strategy. Article content The company will reflect the charge in its financial results for the first quarter of fiscal 2026 and reaffirms its focus on disciplined execution, brand growth, and delivering value to shareholders. Article content About Canada Goose Article content Canada Goose is a performance luxury outerwear, apparel, footwear and accessories brand that inspires all people to thrive in the world outside. We are globally recognized for our commitment to Canadian manufacturing and our high standards of quality, craftsmanship and functionality. We believe in the power of performance, the importance of experience, and that our purpose is to keep the planet cold and the people on it warm. For more information, visit Article content Cautionary Note Regarding Forward-Looking Statements Article content This press release contains forward-looking statements, including statements relating to the impact of the arbitration award and any further actions that may be taken in respect thereof. These forward-looking statements generally can be identified by the use of words such as 'believe,' 'could,' 'continue,' 'expect,' 'estimate,' 'may,' 'potential,' 'would,' 'will,' and other words of similar meaning. Each forward-looking statement contained in this press release is subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the impact on our operations of the current global economic conditions and their evolution and are discussed under 'Cautionary Note regarding Forward-Looking Statements' and 'Factors Affecting our Performance' in our interim and annual Management's Discussion and Analysis ('MD&A') as well as under 'Risk Factors' in our Annual Report on Form 20-F for the year ended March 31, 2025. You are also encouraged to read our filings with the SEC, available at and our filings with Canadian securities regulatory authorities available on SEDAR+ at for a discussion of these and other risks and uncertainties. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements. Article content Article content Article content Article content Article content
Finextra
a day ago
- Business
- Finextra
Humans Group initiates arbitration proceedings against the Republic of Uzbekistan
Humans Mobile Ltd (Singapore), part of Humans Group, an international holding company and owner of Humans' business in Uzbekistan, has formally initiated arbitration proceedings against the Republic of Uzbekistan before the World Bank's International Centre for Settlement of Investment Disputes (ICSID Case No. ARB/25/24). 0 The grounds were a violation of the provisions of the bilateral Agreement between the Governments of the Republic of Uzbekistan and the Republic of Singapore on the Encouragement, and Protection of Investments dated 15 July 2003. The reason behind the arbitration proceedings lies in the actions of several state authorities and state-owned companies, including the Central Bank of the Republic of Uzbekistan and the state-owned operator AK "Uzbektelecom". In September 2024, the Central Bank, in violation of established legal procedures, effectively paralyzed the operations of one of the leading players in the digital transactions market, payment organization AO "Maroqand", a key element of the Humans ecosystem. Simultaneously, AK "Uzbektelecom" began exerting pressure on the company and its management, systematically abusing its dominant position by restricting Humans' capabilities as a virtual operator, and imposing discriminatory limitations on Humans' customers. Humans Mobile seeks compensation for the damage caused to it by the actions of several state authorities in order to restore justice and the rule of law. 'We have always believed and continue to believe in Uzbekistan and its citizens. We sincerely admire the efforts made by the President of the Republic to modernise the economy, digitalize it, and expand entrepreneurial freedoms. 'We realise that on the path of transformation, we meet opponents who nullify efforts to create a free market, increase openness and accelerate growth. We are in favour of transforming Uzbekistan with the rule of law, and without arbitrary bureaucracy. 'Arbitration is a common tool that allows investors to protect their interests from unfair treatment by the host states. Our position is that the damage caused should be compensated and the proceedings should be a step toward strengthening the principles of fair, predictable regulation and support for entrepreneurship. We believe that Uzbekistan can maintain a strong investment climate, and realize its huge economic potential,' Vladimir Dobrynin, CEO and founder Humans Group, said.
CTV News
2 days ago
- Business
- CTV News
Jobs minister asks Canada Post, union back to the bargaining table
Jobs and Families Minister Patty Hajdu takes part in a panel during the Assembly of First Nations Special Chiefs Assembly in Ottawa on December 5, 2024. THE CANADIAN PRESS/Sean Kilpatrick Federal Minister of Jobs and Families Patty Hajdu has asked Canada Post and the union representing its workers back to the bargaining table, alongside federal mediators. In a statement Wednesday, Hajdu wrote that the resuming negotiations will have two goals: To seek terms for arbitration and for the Canadian Union of Postal Workers (CUPW) to respond to the postal carrier's last global offer. 'Arbitration is not the preferred path to an agreement for either side, and each will have priorities it wants recognized,' the statement reads. 'And for that reason, attempts to negotiate a settlement must continue.' Hajdu said urgency is needed to reach a resolution. 'Federal mediators are waiting to engage with the parties,' the statement concludes.
South China Morning Post
3 days ago
- Business
- South China Morning Post
Trade war risks could push global shippers to Asia's arbitration hubs: analysts
The terms 'United States exclusion clause' and 'China risk clause' were frequently heard at a recent shipping forum hosted by Zhejiang Seaport Group in the eastern city of Ningbo, as uncertainties at sea persist despite the trade war truce reached between the world's two biggest economies. Advertisement The event brought together global logistics sector representatives and maritime law experts to consider new contract clauses, strategies and arbitration options, as stakeholders fear that a return of Donald Trump's sky-high duties and China's retaliatory measures would upend global shipping. As the forum concluded, participants agreed on the need to pursue arbitration to protect their interests, and that Hong Kong and nearby Asian hubs could help Chinese firms navigate the choppy waters of trade and geopolitics. 'More maritime legal professionals are asked by traders and shipping companies in China and abroad whether Trump's tariffs and other sudden policy changes will be seen as force majeure,' said Zhuang Wei, Regional Manager of Asia at the Baltic and International Maritime Council, a Denmark-based body and one of the world's largest international associations representing shipowners. In shipping contracts, a risk or force majeure clause helps to relieve parties of responsibility for unforeseen circumstances – either natural or political – that could disrupt transportation. These clauses clarify who bears the cost of potential losses or damages caused by such events, Zhuang said. Advertisement
Bloomberg
3 days ago
- Business
- Bloomberg
Woodside Files for Arbitration in Senegal Over Sangomar Oil Tax
Woodside Energy Group Ltd. opened an arbitration case against Senegal to resolve a tax dispute related to its Sangomar oil project. The company started producing oil last year from the offshore field, just as the government stepped up scrutiny of natural-resource contracts awarded to foreign investors to ensure they 'match Senegal's interests.'
