Court Orders DTC to Keep Supplying Spira
February 22, 11
The Diamond Trading Company (DTC) is supplying former DTC Sightholder A. Spira Diamanthandel following a recent decision of the Belgian Competition Council. In 2003, Spira was not selected by the DTC to continue as a Sightholder in a major overhaul of its client list.
The legal issues between the sides started shortly after the announcement of the Sightholders list, with Spira seeking the help of the courts in securing continued rough diamond supply from the DTC.
In November 2003, the Antwerp Commercial Court President made an interim ruling forcing the DTC to continue supplying Spira while considering the case between the two. In September 2004, the Antwerp Court of Appeal has rejected De Beers’ appeal.
“In line with the recent decision from the Belgian Competition Council Spira is receiving supply from the DTC,” De Beers said in a statement. A. Spira was not immediately available for comment.