An arbitration court in Singapore has rejected Future Retail Ltd.’s plea to lift an interim stay on its deal to sell assets to Reliance Industries Ltd., according to people with the knowledge of the matter.
Acting on the case initiated by Amazon.com Inc., arbitrators informed both sides to the case and their lawyers about the decision during a conference on Wednesday, the people said, asking not to be identified citing rules on speaking to the media. An official communication and the verdict will be sent to the parties in the coming days.
