Akastor ASA: Arbitration outcome of legacy matter
Akastor ASA's (OSE: AKA) Managed Pressure Operations Pte Ltd (MPO), a former Akastor owned company, has recently received an arbitration award from the London Court of International Arbitration (LCIA) whereby MPO is found liable under a project originally initiated in 2012 and where delivery was agreed to take place in 2014. The arbitration proceedings initiated in 2016 have now led to a disappointing result which will impact Akastor's financial results. The arbitration matter is subject to confidentiality undertakings. In 2016 MPO was transferred from Akastor to AFGlobal Corporation (