Harland & Wolff wins drillship appealNews // June 15, 2001
The judgement ruled that Global Marine must pay Harland & Wolff the $27 million and £3.3 million originally awarded at arbitration.
The vessel was completed in July 2000, but Global Marine withheld final payment on the grounds that delivery had been delayed.
However, the long running saga would not seem to be over just yet - Global Marine says it plans to take the decision to House of Lords, the highest court in the UK.
Interested in international disputes & (commercial) arbitration?
Transnational Dispute Management (TDM, ISSN 1875-4120) is a comprehensive and innovative information service on the management of international disputes, with a focus on the rapidly evolving area of investment arbitration, but also in other significant areas of international investment (such as oil, gas, energy, infrastructure, mining, utilities etc). It deals both with formal adjudicatory procedures (mainly investment and commercial arbitration), but also mediation/ADR methods, negotiation and managerial ways to manage transnational disputes efficiently. See http://www.transnational-dispute-management.com/ for more information.