Arbitration proceedings have been formally commenced by CryptoLogic subsidiary WagerLogic against comic-book licence holders Marvel Enterprises Inc and Marvel Enterprises BV.
WagerLogic claims that Marvel has committed material breaches of certain provisions of its agreement relating to the licensing of Marvel comic book characters to WagerLogic.
The arbitration proceedings have been launched under the JAMS Comprehensive Rules in New York. CryptoLogic had originally sought to resolve the issue without resorting to arbitration but feel it has been left with no alternative to protect its licensing rights and commercial interests.
