NOVEMBER 8, 2001
Arrows takes partner to court
ARROWS launched legal action against Coral, saying the betting company is in breach of a sponsorship agreement. Coral is the owner of Eurobet. Arrows is also taking action against Coral owner Morgan Grenfell Private Equity, the private equity arm of Deutsche Bank.
Morgan Grenfell is a part owner (at least for the moment) of Arrows.
Arrows claims that Coral agreed to a two-year sponsorship deal at the start of 2000, agreeing to pay $15m over two years. Coral terminated the agreement early although Arrows argues that it is not allowed to do this.
Coral has dismissed the writ from Arrows as "a load of rubbish".
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