Jayam loses DTC court battle

Belgium-based sightholder Jayam NV lost its case against the Diamond Trading Company (DTC), the sales and marketing arm of De Beers, in London�s High Court on March 1st, according to reports.

The ruling may shield the DTC from similar claims in future, said industry experts.

Jayam sued the DTC over alleged violations of its Supplier of Choice (SOC) marketing policy, claiming that its annual allocations fell from $140 million to less than $50 million since SOC�s introduction.

The High Court said there was no evidence that the SOC system operated in an �irrational or unfair� manner, contrasting an earlier decision by the SOC Ombudsman which had ruled in Jayam�s favour.

Jayam, which had been one of the DTC�s largest clients for over 45 years, said it was disappointed by the judgement, and that it would file a petition in the Court of Appeals.