SOCCEREX STATEMENT REGARDING THE ONGOING COURT CASE AGAINST THE RIO DE JANEIRO STATE GOVERNMENT
On 14th February 2019, the 8th Public Treasury Court of the State Court of Rio de Janeiro, Brazil rendered a sentence in Soccerex’s favour, recognizing that the recission of the Soccerex’s Global Convention Agreement, that caused the cancellation of the 2013 edition of the Soccerex Global Convention was exclusively fault of Rio de Janeiro State Government.
Compensation is still to be calculated, dependent on the appeals process in the courts, but will take into account a variety of factors related to the material losses and damages caused to Soccerex’s business relationships, reputation in the market and disruption to their ongoing trade.
Soccerex CEO and Co-Founder Rita Revie commented "I am glad to see that the justice system in Rio state is alive and well and that we have been vindicated in our decision to pursue this matter through the courts. Whilst there is still some distance to travel, this is a very positive step and I cannot thank enough our lawyers, and friends, at Cravo Pastl Balbuena Advogados Associados and Dannemann Siemsen who have been invaluable in achieving this result. "
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