Monday 10 September 2012

Decision in Arbitration with AECL Over Cancelled MAPLE Project

Decision in Arbitration with AECL Over Cancelled MAPLE Project: http://news.nordion.com/phoenix.zhtml?c=68761&p=irol-newsarticle&ID=1733262

"The majority of the tribunal ruled 2:1 that Nordion's claim against AECL in the arbitration was precluded under the terms of the 2006 Interim and Long-Term Supply Agreement (ILTSA) between Nordion and AECL. Thus, Nordion was not entitled
to a remedy under the ILTSA for the unilateral termination by AECL of the construction of the MAPLE facilities.
The arbitrators dismissed AECL's counterclaim against Nordion, which claimed damages for breach of contract in the amount of $250 million and other relief. "

the story in Ottawa Citizen: http://www.ottawacitizen.com/Business/Nordion+loses+three+year+battle+with+Atomic+Energy/7218211/story.html

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