GOLD COAST: A successful outcome in a Queensland court looks set to boost Billabong's efforts to fend off a legal dispute initiated by a former licensee.
The Supreme Court of Queensland determined the company validly terminated its Indonesian license agreement in 2005, according to a statement released by Billabong.
Billabong's former Indonesian licensee, CV Bali Balance, initiated legal proceedings in Indonesia in March 2010 questioning the validity of the license termination.
Billabong stated that the license agreement was subject to Queensland law.
The company affirmed it will inform Australian and Indonesian authorities of the Supreme Court's findings. Billabong also said it plans to use the findings as part of its defence in the legal actions initiated by CV Bali Balance, which are ongoing.