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Multiconsult ASA ( (DE:3MC) ) just unveiled an announcement.
Multiconsult ASA reports that its long-running legal dispute over the Sotra Link project has moved to the appeal stage, but only on limited grounds. Sotra Link Construction JV ANS has appealed the Oslo District Court’s award of approximately NOK 84 million in cancellation damages and NOK 31.4 million in legal and internal costs to Multiconsult Norge AS.
Key elements of the original ruling remain intact, including about NOK 106 million in remuneration for services plus interest and the court’s dismissal of Sotra Link Construction JV ANS’ counterclaims, all of which have been fully paid and are now final. Multiconsult has also received around NOK 15.7 million, equal to half of the awarded legal and internal costs, and is securing the remaining appealed amounts through enforcement measures or a bank guarantee while maintaining that the judgment overall remains favourable for the company.
More about Multiconsult ASA
Multiconsult ASA is a Norwegian engineering and consulting company, listed in Oslo, that provides design, advisory and project management services to infrastructure and construction projects. Through its subsidiary Multiconsult Norge AS, the group is involved in major public–private partnership initiatives such as the Sotra Link project, serving clients in the transport and civil engineering sectors.
Average Trading Volume: 14,362
Current Market Cap: NOK4.43B
Learn more about 3MC stock on TipRanks’ Stock Analysis page.