Judgement on Bergen vs. Stocznia Gdansk Expected Mid-July

Bergen Group ASA has ongoing arbitration proceedings against the hull yard Stocznia Gdansk SA in Poland. The arbitration is related to the contract for the construction of the hull of the first cruise ferry currently under completion at Bergen Group Fosen.

The hull of the cruise ferry was delivered from Stocznia Gdansk in April 2012, with a delay of more than a half year compared to the contractual delivery date. The parties have raised claims and counter-claims, both in the order of 8 million EURO. The arbitration panel in Stockholm has now closed for judgment, with a final decision expected in mid-July 2013. At the end of Q1 2013, no accounting dispositions related to the outcome of the arbitration have been made.

[mappress]
Press release, June 20, 2013;