MOSCOW, November 5 (RAPSI) – Samsung Electronics Russia (Samsung) has initiated arbitration proceedings against cellphone retailer Euroset alleging unpaid penalties totaling 1.2 billion rubles ($18,9 million), Interfax reported on Thursday, citing undisclosed source.
Samsung claims that Euroset delayed payments for the delivered goods for the last three years.
The application has been lodged with the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation.
Samsung's Moscow office confirmed that the suit has been filed, but declined to comment on the subject.
Euroset CEO Alexander Malis told Interfax that the company has no “unadjusted delays “ with Samsung.