John Fredriksen’s Frontline has triumphed in the first round of arbitration over its decision to pull out of a merger with Belgium’s Euronav.
Frontline tore up a combination agreement last month, but its would-be partner said it had no grounds for the move.
Euronav had sought emergency arbitration in Belgium to keep the agreement in place while a second arbitration examined the merits of Frontline’s move.
