Oslo-listed floatel group Prosafe has won a $45m payout in a dispute involving the conversion of a tender support vessel (TSV).
Stavanger city court ruled in its favour against Westcon Yards of Norway.
The case was related to a "substantial cost overrun" of Westcon's price estimate for the conversion of the 25,383-gt Safe Scandinavia (built 1984), Prosafe said.
Westcon had claimed additional compensation of NOK 306m ($38.97m) plus interest, whereas Prosafe disputed this and claimed a substantial repayment.
The court ruled Westcon must repay Prosafe NOK 344m plus interest and NOK 10.6m legal costs.
"We are very pleased to note that the Stavanger city court has decided in our favour in practically all respects. The judgement represents full repayment of the amount claimed," said Jesper Andresen, CEO of Prosafe.
