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Cyprus

Red Bull wins case against Pitsillides Trading at Supreme Court

The Supreme Court

The Supreme Court has affirmed a first instance court decision that Red Bull GmbH had the right to terminate its exclusive distribution contract with P. Pitsillides Trading Ltd and its director Panagiotis Pitsillides who sought €7.4m in damages, the company’s lawyers said.

“The legal action was triggered by the decision of Red Bull to terminate the agreement for exclusive distribution of the energy product Red Bull in Cyprus which they had signed with Pitsillides Trading Ltd and its decision to proceed with the appointment of another representative as their exclusive distributor in Cyprus,” the law firm Y. Georgiades and Associates said in an emailed statement on Friday.

The Georgiades law firm said that the Supreme Court rejected the plaintiffs’ allegations that a verbal agreement existed between them and Red Bull, preventing the latter from terminating the contract.

“The Supreme Court found that the decision of the first instance court correct, that the claims of the appellants are inextricably connected to and arise from the distribution agreement, therefore the arbitration clause was applicable under the circumstances,” the Red Bull lawyer said.

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