Erria gets back 30.5 million euros
SHIPPING: A chinese shipyard has repaid 30.5 million euros to Erria. The tribunal in London decided that Erria was entitled to cancel the last two newbuilding contracts at Rushan Shipyard, China, and so a refund was in place.
Warranty authors (Agricultural Bank of China) has fulfilled the obligation under the arbitration decision and has paid a total of 30.5 million euros into Erria's account in Danske Bank.
The accounting consequences will positively affect the discontinued operations in Erria's consolidated company accounts with approximately DKK 85 million before tax.
Erria's expectations for a positive outcome of 2012 has hence been strengthened.
Source: Erria
