Court Dismisses Claim against Armada Seismic Invest II

Maritime Activity Reports, Inc.

July 15, 2018

Polar Duchess. Photo: GC Rieber Shipping

Polar Duchess. Photo: GC Rieber Shipping

 The Supreme Court has dismissed claims of EUR 9 mln (USD 10.51 mln) from Norway's PGS Geophysical (UK) Limited against Armada Seismic Invest II AS in connection with the delivery of 3D seismic vessel Polar Duchess, said a press release from GC Rieber Shipping ASA.

 
The Norwegian shipping company that operates offshore subsea support vessels said in a stock exchange annoucement: "Reference is made to the stock exchange announcement 29 May 2018, where it was announced that PGS had appealed Gulating Court of Appeal`s decision in PGS claim of approx. EUR 9 million against GC Rieber Shipping's subsidiary Armada  to the Supreme Court."
 
"The dispute has now been adjudicated by the Supreme Court`s appeals committee, which has rendered its decision. The Supreme Court's appeal committee ruled in favor of Armada and the claim against Armada has been dismissed," it added.
 
The decision is final and Armada will be refunded their legal costs of approximately NOK 7 million in connection with Bergen District Court, Gulating Court of Appeal and the Supreme Court`s appeal committee, it said.
 
GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic. The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels.
 
GC Rieber Shipping currently operates and has direct and indirect ownership in 11 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments. The company has its headquarter and a ship management office in Bergen, and an additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH.
 
Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News