Korean Shipbuilder to Pay US$3.5-million Compensation

Law360
Thursday, July 26, 2012

A Texas appeals court affirms US$3.5-million judgement against Daewoo Shipbuilding & Marine Engineering Co.

The court upheld a jury’s finding that the Korean company wrongfully refused to pay consultants who helped secure a $696 million contract to build supertankers.

The Fourteenth Court of Appeals held that the jury’s interpretation of an ambiguous agreement between Daewoo — the world's second largest shipbuilder — and Ikanco Inc. that resulted in the judgment was appropriate.

 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

Cruise Industry Wins Key Norovirus Judgment

In what is being seen as a landmark decision, Hill Dickinson is the first law firm to have successfully defended a UK class action case involving a Norovirus outbreak onboard a cruise liner.

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1107 sec (9 req/sec)