Coastal Contracts slapped with arbitration notice after contract cancellation

Further, Coastal added, the builders had not quantified their claim under the notice until after the subsidiary had filed its counterclaim. The builders’ current claim is $37.4 million which directly reflects the subsidiary’s counter-claim against the builders in its response to the notice of arbitration.

Coastal also said that the subsidiary is resisting the ‘meritless’ claim while at the same time pursuing its counter-claim.

Offshore Energy Today Staff