ITD: Announcement of Singapore International Arbitration Centre

On February 05, 2015, Innovative Technology Development Corporation (“ITD”) received Document No.ARB024/14/MV from the Singapore International Arbitration Centre regarding the termination of the arbitral proceedings between the plaintiff – Electrotecnica Arteche Hermanos, S.L (“Arteche”) and the defendant - Innovative Technology Development Corporation (“ITD”), because Arteche withdrew the request to ITD and ITD had no objection.

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