SINGAPORE (Dow Jones)–Sembcorp Marine Ltd. (S51.SG) said Thursday the Singapore High Court has issued an unfavorable judgment on its lawsuit against PPL Holdings Pte. Ltd., and the world’s second-biggest rig builder by volume is seeking legal advice with a view to appeal the decision.
Sembcorp Marine didn’t give details of the lawsuit in a statement to Singapore Exchange. In April 2010, PPL Holdings had rejected a S$59.4 million offer from Sembcorp Marine to buy the 15% stake in PPL Shipyard that it doesn’t already own, which led Sembcorp Marine to file the lawsuit in the following month.
According to a company statement on May 15, 2010, Sembcorp Marine had asked for a court ruling that would render its current joint venture agreement with PPL Holdings “no longer in force” and require the company to sell its minority stake in the venture to Sembcorp Marine.
COPENHAGEN, April 15 (Reuters) – Shipping company Maersk has not made any deployment changes after a Portuguese-flagged container ship was seized by Iran in the Strait of Hormuz on Saturday, the Danish company said on Monday. “We find recent...
WASHINGTON, April 15 (Reuters) – The FBI has opened a federal criminal investigation into the deadly collapse of a Baltimore bridge last month when a ship crashed into one of its supports,...
By Daryna Krasnolutska (Bloomberg) Russia and Ukraine may have struggled to shift things significantly on the battlefield for more than 16 months, but a new phase of the war is moving...
April 14, 2024
Total Views: 2113
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.