GC Rieber Wins PGS $9 Mln Claim Case

0
132

Bergen district court has dismissed claims of €9 million from seismic company Arrow Seismic (now PGS UK) against GC Rieber Shipping’s subsidiary Armada Seismic Invest II (Armada) in connection with the delivery of 3D seismic vessel Polar Duchess.

Namely, in 2012 Arrow alleged that Armada had acted negligently when the company took delivery of the Polar Duchess (hull 533) in October 2011 and claimed about €9 million in damages.

Arrow, which at the time of delivery had a pending second priority attachment over the shipyard’s claim for payment, argued that Armada’s payment was made to the wrong party when the first priority mortgagee was paid.

According to Rieber, the dispute was resolved on March 2, 2016, after various delays due to procedural issues.

In addition, Armada has been awarded full legal fees in the amount of NOK 3.4 million. However, GC Rieber said that the decision may be appealed.

 

 

 

 

 

 

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.