AgustaWestland: Indian Contract - the Court of Milan partially upholds the complaint lodged by the Indian Ministry of Defence

AgustaWestland: Indian Contract - the Court of Milan partially upholds the complaint lodged by the Indian Ministry of Defence

AgustaWestland informs that today, the Court of Milan partially upheld the complaint lodged by the Indian Ministry of Defence, and thereby revoked the order issued by the judge on last March 17 on the seeking of emergency interim lodged by AgustaWestland to resist the calling of certain first demand bank guarantees provided with reference to the contract for the supply of 12 helicopters AW 101 VVIP/VIP for an amount of EUR 228 million maximum against a call seeking to cash EUR 278 million.

 

AgustaWestland will assert its rights to recover the aforesaid amounts in the arbitration process already initiated.

 

With reference to the guidance of the Finmeccanica Group for 2014, it is to be noted that - as already announced on last 19 March - they did not include negative developments occurring regarding the said contract.

 

Rome 23/05/2014 21:40