Don’t miss the latest developments in business and finance.

US court denies Armstrong's appeal to block Dallas company's attempts to recover 12 mln-dollar bonuses

Image
ANI Johannesburg
Last Updated : May 31 2014 | 10:05 AM IST

Disgraced former US cyclist Lance Armstrong has reportedly been denied an appeal to block a Dallas company's attempts to recover about 12 million dollars in performance bonuses it paid the cyclist during his career.

SCA Promotions, which has been in a legal dispute with Armstrong over the money for several years, wants its money back now that Armstrong has admitted using performance-enhancing drugs to win the Tour de France seven times.

According to Sport24, the company alleged that it was deceived by Armstrong and an arbitration panel agreed to consider the company's case, although Armstrong has sought to block the arbitration review and his pending sworn testimony.

However, the report mentioned that the Texas Supreme Court ruled in SCA's favor, dismissing Armstrong's appeal, in which he argued he had a binding settlement with the company in 2006 that should not be overturned.

More From This Section

First Published: May 31 2014 | 9:56 AM IST

Next Story