The Arbitration Court in Stockholm has now delivered the judgment in the arbitration between Bergen Group and Stocznia Gdansk SA in Poland.
The judgment entails that Bergen Group must pay EURO 3.6 million to the hull yard in Poland. Bergen Group will study the judgment carefully before deciding on further handling of the case.
The arbitration was related to the contract for the construction of the hull of the first cruise ferry, which earlier this week was completed at Bergen Group Fosen. The parties had raised claims and counterclaim both in the order of EURO 8 million. The costs related to the arbitration award will for now be charged to the accounts for Q2 2013.
[mappress] Press release, July 10, 2013