Pacific Drilling (PACD) Announces Appeal of Arbitration Decision
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Pacific Drilling Announces Appeal of Arbitration Decision
February 11, 2020 4:56 PM ESTLUXEMBOURG--(BUSINESS WIRE)-- Pacific Drilling S.A. (NYSE: PACD) (the Company) announced today that its subsidiaries, Pacific Drilling VIII Limited (PDVIII) and Pacific Drilling Services, Inc. (PDSI), have filed an application with the High Court in London for leave to appeal the award that has been issued in the arbitration proceedings between PDVIII and PDSI and Samsung Heavy Industries Co. Ltd. (SHI) related to the contract for the construction and sale of the Pacific Zonda. As previously disclosed, on January 15, 2020 an arbitration tribunal in London, England (the Tribunal) awarded SHI approximately $320 million with respect to its... More
