Breaches of agreement claimed
Wagerlogic, a subsidiary of online gambling software provider Cryptologic, has announced that
It has commenced arbitration proceedings against Marvel Enterprises Inc. and Marvel Enterprises B.V. (collectively "Marvel"), under the JAMS Comprehensive Rules in New York City, USA.
The company has licensing agreements with Marvel to use its characters in online games.
The arbitration revolves around WagerLogic Ltd.'s claims that Marvel has committed material breaches of certain provisions of its agreement relating to the licensing of Marvel comic book characters. The announcement does not identify the specific breaches alleged.
CryptoLogic says that whilst it had sought to resolve the issue without resorting to arbitration, the company has been left with no alternative to taking this step to protect its licensing rights and commercial interests.
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