- PUMA initiated arbitration proceedings with ESTUDIO 2000 in relation to a distribution agreement executed between said parties on December 12, 1994. The fnal arbitral award was issued ordering PUMA to compensate ESTUDIO 2000 in an amount close to €100 million.
- The last meeting attended by all members of the arbitration tribunal was held on May 31, 2010. No agreement was reached at this meeting regarding the amount of compensation to be awarded to ESTUDIO 2000 in the arbitral award.
- On June 2, 2010, the chairman of the arbitration tribunal and the co-arbitrator appointed by ESTUDIO 2000 met, deliberated and issued the arbitral award without convening the co-arbitrator of PUMA to participate in the fnal deliberations and voting, in full awareness that the latter was traveling on that date.
- On that same day, the arbitral award was issued with the signature of said two arbitrators and communicated to the parties and the co-arbitrator appointed by PUMA, specifying in the award that the arbitral award was not signed by the latter because he had not yet consented to the arbitral award.
- There was no evidence that the co-arbitrator of PUMA ever adopted dilatory tactics (including attempting to obstruct or block the granting of the award by the majority of the arbitration tribunal). On the contrary, it was proven that there were no reasons of urgency that would have required the arbitration tribunal to issue the arbitral award on June 2, 2010, considering that the deadline for issuing the arbitral award was July 4.
- Based on the foregoing, PUMA fled a liability suit against the chairman of the arbitration tribunal and the co-arbitrator appointed by ESTUDIO 2000, claiming the fees paid by PUMA to both arbitrators in the form of arbitration fees, totaling €750,000, plus interest, for each arbitrator.