Korean Shipbuilder to Pay US$3.5-million Compensation

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


Northern Fleet to Conduct Anti-terrorist Exercises

The sailors of the Northern Fleet will conduct anti-terrorism exercises at Novaya Zemlya. During the exercise, the coast will be a landing. The landing will

MECNW Appoints New CEO

Terry Weston has been confirmed as Chief Executive of Maritime and Engineering College North West (MECNW) following the retirement of his predecessor, Jim Teasdale, at the end of September.

MacGregor's Deck Machinery for Sentinel Marine ERRV

MacGregor, part of Cargotec, will supply deck machinery for a new 65m emergency rescue & response vessel (ERRV) for Sentinel Marine. The ship has been designed

Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.1583 sec (6 req/sec)