Intex Wins, Telerate Loses In Arena Arbitration; Decision Will Complicate Telerate's Minex Deal
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The American Arbitration Association has ruled in favor of Intex Holdings (Bermuda) Ltd. in its dispute with Telerate Systems Inc. over the Arena joint venture to develop an order-routing system for futures trading. While the award of less than half a million dollars was far short of the $30 million Intex was seeking, Telerate's counterclaim seeking termination of the contract with Intex was denied.
Now, Intex is seeking further arbitration relating to Telerate's participation in transactional
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