UMH continues to defend in courts the right to use the Forbes brand

UMH продолжает отстаивать в судах право на использование бренда Forbes

License agreement for use of the Forbes brand is valid and paid until the end of 2018

The decision of the American arbitration was passed with numerous procedural violations.

In new York, the ICDR international arbitration on April 20 issued a decision confirming the termination of the License agreement from 2009, in accordance with which the company UMH enjoy the right to the publication of Forbes magazine in Ukraine.

UMH believes that the decision was passed with numerous procedural violations, ranging from the choice of the place of arbitration, where the holding company obviously could not obtain justice in this case and to protect their interests, because due to us sanctions restrictions, the company did not have freedom of appointment of the arbitrator and could not attract to their representation of qualified lawyers, and ending the procedure of holding hearings.

Such violations provide grounds for UMH to require non-recognition of such decision, in case of enforcement in different jurisdictions.

In addition, arbitration is very kind of interpreted a number of provisions in the Licensing agreement, which also gives the basis of the UMH to appeal the decision in an appropriate court of General jurisdiction of the state of new York.

The lawyers of the holding, together with American and European lawyers have already initiated procedures to appeal the decision to the U.S. court and ready to seek its recognition in European jurisdictions and Ukraine.

The holding reports that the license agreement is valid and paid until the end of 2018, and until the decision of the new York arbitration will not be recognized by the respective state courts of jurisdiction UMH will continue to enjoy the rights to publish the magazine.

UMH Group will continue to defend their interests through legal means to overturn the illegal decision of the American arbitration.

UMH — actively growing media group in Eastern Europe, govern-schaya portfolio of over 50 brands. In Ukraine company holds the lead-is a valid position in the markets of Internet, radio and press. The basic business of the company — production of content for all types of media. Four strategic business units of the company: UMH Online, UMH Radio & TV, UMH Publishing and UMH Russia. In the company’s portfolio includes such brands as: Forbes, Vogue, Korrespondent, Telenedelya, i.ua, bigmir.net, football.ua, Retro FM, Nashe radio, Europa Plus, AV-toradio, Arguments and Facts, Komsomolskaya Pravda and others.

Source