Report: Dutch court overrules Tiffany payment to Swatch

New York – A Dutch court has reportedly set aside a $449.5 million arbitration payment Tiffany & Co. had been ordered to make to Swiss watchmaker Swatch Group AG in December 2013. According to the New York Times, a three-member panel of judges ruled in favor of a counterclaim Tiffany filed in March 2014.



The dispute centers on a 2007 partnership between Tiffany and Swatch to extend the international reach of Tiffany watches, which ended in 2011. Swatch filed a breach of contract arbitration claim in the Netherlands, while Tiffany’s counterclaim said Swatch had acted too slowly in getting Tiffany products into the global market.