Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/tgs-arbitration-update.shtmlTGS arbitration update
TGS has now received the next pleading and the writ related to the counterclaim from Wavefield in the arbitration process between the two companies.
Edit page New page Hide edit links
TGS has now received the next pleading and the writ related to the counterclaim from Wavefield in the arbitration process between the two companies.
Wavefield is claiming damages limited upwards to NOK 150 millions (approximately USD 26.5 million) plus interest and costs.
In the pleading, Wavefield reserves a right to increase the claim.The claim is for alleged losses related to lost business opportunities and direct costs in connection with the merger.
TGS and its lawyers reject the claim for compensation as being without legal reasons.
