Boa IMR AS a 100 % owned subsidiary in the Boa
Offshore group, was last evening October 5, 2017
notified of a successful arbitration award from the
Oslo tribunal after the hearing held in the
beginning of September 2017.
The arbitration process was related to a refund
guarantee claim of advance payments after Boa IMR AS's
cancellation of a shipbuilding contract with Noryards
Fosen AS back in September 2015.
The unanimous award determines that Fevamotinico
S.รก.r.l. shall pay Boa IMR AS NOK 107,479,053.77
with the addition of 7 % interest calculated on
NOK 104,000,000 from October 20, 2015 until the
settlement date, to pay Boa IMR AS's litigation
costs and to pay the arbitration tribunal's fees
and costs.
The payment term for the payments to Boa IMR is
14 days from the notice was given.
For further information, please contact:
Helge Kvalvik, CEO: Tel +47 97 97 97 72, or
Albert Strand, Director Finance and Risk:
Tel +47 90 74 44 61
About Boa Offshore:
Boa Offshore is a Norwegian-based global offshore
supply vessel owner and operator with a well-
diversified fleet of 34 units focused on subsea,
barges, tugs, seismic, AHTS, engineering and project
management. The company has the most sophisticated
semi-submersible barge fleet in the world and holds
the global market-leading position for heavy lift
barges. The Boa group is an experienced and focused
operator with more than 40 years of history.