Blue Star Wins Arbitration Case Against WJT

Blue Star Ltd has announced a favorable outcome in the arbitration proceedings initiated by W.J. Towell & Co LLC (WJT) before the International Chamber of Commerce (ICC). The initial claim by WJT was for OMR 103,18,000, later revised to OMR 2,11,80,748 (approximately Rs 461.74 crores). The Arbitrator has ruled in favor of Blue Star, dismissing all claims made by WJT. However, the Arbitrator has reserved the award on interest and costs, which will be addressed in a subsequent award. This ruling is a significant positive development for Blue Star, as it invalidates a substantial claim against the company.