Boskalis wins summary proceedings against payment of EUR 39.5 million in bank guarantees due to sanctions on Russian project
June 09 2022 - 10:25AM
Boskalis wins summary proceedings against payment of EUR 39.5
million in bank guarantees due to sanctions on Russian project
Papendrecht, 9 June 2022
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.
FOR FURTHER INFORMATION
Investor relations:Martijn L.D.
Schuttevâerir@boskalis.com
Press:Arno Schikkerpress@boskalis.com
T +31 786969310Royal Boskalis
Westminster N.V. is a leading global services provider operating in
the dredging, maritime infrastructure and maritime services
sectors. The company provides creative and innovative all-round
solutions to infrastructural challenges in the maritime, coastal
and delta regions of the world. With core activities such as
coastal defense, riverbank protection and land reclamation Boskalis
is able to provide adaptive and mitigating solutions to combat the
effects of climate change, such as extreme weather conditions and
rising sea levels, as well as delivering solutions for the
increasing need for space in coastal and delta regions across the
world. The company facilitates the development of offshore energy
infrastructure, including renewable wind energy. Boskalis is
furthermore active in the construction and maintenance of ports,
waterways, access channels and civil infrastructure, thus helping
to facilitate trade flows and regional socio-economic development.
In addition, Boskalis is a global marine salvage expert and has a
number of strategic partnerships in harbor towage and terminal
services (Keppel Smit Towage and Smit
Lamnalco). With a versatile fleet of over
600 vessels and floating equipment and more than 10,000 employees,
including associates, Boskalis is creating new horizons around the
world.
This press release can also be found on our website
www.boskalis.com.
- Saren appeal ENG 09062022
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