Nordion Provides Update on MAPLE Arbitration Costs
Nordion Provides Update on MAPLE Arbitration Costs: http://www.financialpost.com/markets/news/Nordion+Provides+Update+MAPLE+Arbitration+Costs/7650882/story.html
"Nordion has received and is currently assessing the legal merits and
financial implications of AECL’s costs submissions. AECL submitted
total arbitration-related costs of approximately $46 million. The
Company expects to file a response to AECL’s submission with the
tribunal in early 2013. The tribunal is expected to schedule proceedings
to hear both parties’ arguments during the Company’s second fiscal
quarter of 2013. Nordion expects a decision to be rendered regarding the
allocation of arbitration-related costs thereafter. As the MAPLE
arbitration decision of the tribunal favored AECL, Nordion may be
responsible for a portion of AECL's costs which could be material."
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