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The Swatch Group said it will appeal the Dutch court decision that voided the $449 million in damages Tiffany & Co. paid over the companies’ failed partnership. Last Wednesday, Amsterdam's district Court “set aside” the multi-million arbitration award issued in this case in December 2013. Accordingly, the court ordered Tiffany to pay about $449.5 million in damages plus legal fees and interest, with the total amount due by Tiffany to more than $500 million. Tiffany fully complied and paid out all dues in January 2014. According to an 8-K filing, Tiffany petitioned to have the award annulled in March 2014, which doesn’t happen often. There are only “limited grounds” on which parties can ask the Dutch court to set aside arbitration awards, the filing states, and Tiffany sought an annulment on these grounds, though it did not elaborate on the specifics of its petition in the 8-K. Last Wednesday, The Amsterdam district court decided in favor of Tiffany & Co. Hence, Swatch group immediately said that it plans to appeal the decision. Tiffany said in its 8-K that the appeal will not be resolved for at least 18 months. It could result in the court finding that Swatch breached the contract, that Tiffany breached the contract or that neither party was at fault.