American Court of Arbitration has completely banned UMH (Ukrainian Media Holding) to use the brand of Forbes, confirming the legality of the revocation of the license, Liga.Biznes writes referring to a comment of Forbes Media LLC.
On April 20, the International Court of Arbitration in New York decided a dispute between UMH and the American publishing house Forbes Media LLC in favor of the latter and revoked the license of Forbes Ukraine due to the violation of censorship.
UMH was banned to use all the brands of Forbes, including Forbes Ukraine, forbes.net.ua domain or any other use of the brand in publishing, online resources and mobile applications.
The Court considers the termination of the license agreement between Forbes Media LLC and UMH to be legal due to the Ukrainian media holding’s violation of censorship and principles of independent journalism.
It also was noted that in reaching the decision the Court of Arbitration referred to UMH’s violation of editorial principles of the license agreement, stating that the latter had failed to provide integrity and independence of the editorial team of Forbes Ukraine.
Forbes Media believes that the court has fully confirmed the legality of its actions to ban the Ukrainian partners to use the brand of magazine, its domain and content.
In early August, 2015, the US government introduced sanctions against UMH’s owner Sergei Kurchenko and closed access to the brand of Forbes, its content and domain. Ukrainian edition of Forbes had to move to a temporary domain forbes.net.ua.
UMH then thought that Forbes Media had violated their rights provided by the current contract, as according to the company, the license was valid up to the end of 2018.
On January, 13, the web-version of the Ukrainian edition returned to the previous forbes.ua domain. This decision was adopted by the Sadgorskiy court of Chernovtsy in December 2015. Forbes Media said they had no idea about the returning of the domain to UMH.