After months of litigation proceedings between Young Chang America/AnD Music Corp. and Samick Music Corp (SMC), the American Arbitrators Association (AAA) ruled that YCA/AnD was once again the rightful exclusive distributor for Young Chang, Weber and Kurzweil brand products for all of North America. Included in this decision was the recovery of accounts receivable that were collected by SMC on YCA's inventory which SMC had acquired when they first took over the company. The decision reached by the American Arbitrators Association is final and cannot be appealed.
In a statement made to the industry following the decision, Jeff Dunmire, Vice President of Sales for AnD Music Corp., stated that: "This is a great triumph for us not only with winning the case, but also as a vindication with our dealers and our customers. So much misinformation and fabrications were circulated by our adversaries to our dealers and the rest of the music industry in order to erode our credibility and create uncertainty about our company. The decision dispels all of that. Furthermore, all information from us was based on the truth. No wild assertions about our competition...just the truth. There were many times we delayed making comments or statements until we knew were on solid ground and that we could prove what we stated was true. From the beginning of this ordeal we took the high road. For those of you who stood with us and supported us in during this turbulent time, we thank you, and your loyalty to us will be remembered."
He concluded by saying: "There are many exciting events coming for Young Chang and Kurzweil and our dealers over the next six months and in years to come. We want you to all to join us during this new beginning of our company and be a part of Young Chang and Kurzweil's future." |
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