Mossimo Inc is in the process of reviewing its options after an arbitration hearing panel issued an interim award to rival licensing company Cherokee Inc.

The two companies are disputing fees due Cherokee under a finder's agreement between them, but in a press release Wednesday Mossimo said it doesn't agree with the interim award.

Mossimo said all fees that might be due to Cherokee under the agreement had been accrued and charged to operations through 30 September 2002. The company said the funds had been segregated in a separate bank account, even though the payment of such amounts was pending the results of the arbitration.