![](https://i.imgur.com/CLvY2jA.png")
20-04-2024, 04:54 PM
Seatrium to pay US$108 million to vendor following arbitration ruling (The Edge Singapore)
Seatrium is to pay US$108 million to MH Wirth, following arbitration filed in 2021 over supply of certain equipment for certain past projects. In an announcement on April 18, Seatrium says that arbitration proceedings were concluded last July.
The arbitration award included termination fees of US$101 million plus other costs including labour and legal. Seatrium adds that it has already made provision for this US$108 million.
However, interest costs will be further determined. Seatrium will book this amount within this current FY2024.
Seatrium closed Friday 17:05:05 at 0.077, +.001 (1.3,%) with top Vol of 517,827,000hin this current FY2024.
Seatrium is to pay US$108 million to MH Wirth, following arbitration filed in 2021 over supply of certain equipment for certain past projects. In an announcement on April 18, Seatrium says that arbitration proceedings were concluded last July.
The arbitration award included termination fees of US$101 million plus other costs including labour and legal. Seatrium adds that it has already made provision for this US$108 million.
However, interest costs will be further determined. Seatrium will book this amount within this current FY2024.
Seatrium closed Friday 17:05:05 at 0.077, +.001 (1.3,%) with top Vol of 517,827,000hin this current FY2024.
