SFL Wins Legal Dispute Against Seadrill

MT Newswires Live10-14

SFL (SFL) said late Tuesday that Borgarting Court of Appeal in Norway has issued a judgment in the legal dispute between its rig-owning subsidiary and certain units of Seadrill (SDRL), unanimously deciding that Seadrill breached the contract when redelivering the Hercules drilling rig to SFL in December 2022.

Seadrill was ordered to pay SFL's subsidiary a total of about 525 million Norwegian kroner ($55 million), including compensation, late payment interest and legal costs, the company said in a filing.

SFL said it was awarded its full legal costs for the proceedings before both the Oslo District Court and Borgarting Court of Appeal.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment