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PGS Psg Solutions

116.50
0.00 (0.00%)
18 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Psg Solutions LSE:PGS London Ordinary Share GB00B0WHXB01 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 116.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

PGS: Court Dismisses $70 Million CGG Veritas Claim Against Arrow

08/04/2009 11:40am

Dow Jones News


Psg Solutions (LSE:PGS)
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   DOW JONES NEWSWIRES 

Petroleum Geo-Services ASA Wednesday said Asker and Baerum Tingrett court dismisses $70 million damages claim made against its subsidiary Arrow Seismic ASA.

   MAIN FACTS: 

-CGG Veritas claimed $70 million in damages on basis of the assertion that Arrow had taken on contractual obligations to charter the vessel NB 534 to CGG Veritas.

-Arrow denied the existence of any such contractual commitment.

-Court concludes that CGGV's claim for damages is unfounded. CGGV were ordered to compensate Arrow for its legal costs.

-Judgment may in principle be appealed to the Court of Appeal.

-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090; djnews.stockholm@dowjones.com

 
 

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