Boskalis Wins Summary Proceedings against Payment of Bank Guarantees

Source: www.gulfoilandgas.com 6/9/2022, Location: Asia

In light of European sanctions legislation, Boskalis suspended its activities on a Russian LNG project earlier this year. In response to this decision, the client Saren B.V. was of the opinion that there was a breach of contract and consequently made a claim for payment of EUR 39.5 million under the bank guarantees. Today the judge in summary proceedings ruled in favor of Boskalis on all major points and no payments may be made either to Saren or the end client in Russia.


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