Brief: Awilco Says Exercised Its Right To Terminate Building Contract With Keppel Fels Limited
22/06/2020 19:14
June 22 (Reuters) - Awilco Drilling Plc AWDR.OL :
* REG-AWILCO DRILLING PLC: NORDIC WINTER UPDATE
* EXERCISED ITS RIGHT TO TERMINATE BUILDING CONTRACT WITH
KEPPEL
FELS LIMITED
* AR1 RECEIVED NOTICE FROM KFELS PURPORTING TO TERMINATE FOR
FAILURE TO PAY NEXT INSTALMENT DUE
* NOTICE THAT KFELS HAS COMMENCED ARBITRATION TO RESOLVE
DISPUTES
CONCERNING TERMINATION AND ITS CONSEQUENCES
* AR1 MAINTAINS ITS POSITION THAT IT VALIDLY TERMINATED
CONTRACT
AND MAINTAINS ITS ENTITLEMENT TO INSTALMENTS
Source text for Eikon: ID:nGNE2PRzGW
Further company coverage: AWDR.OL
((Reuters.Briefs@thomsonreuters.com;))
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