Gigantic claims regarding Police polymers. Azoty is suing Hyundai Engineering

Grupa Azoty Polyolefins has filed a claim in arbitration proceedings against Hyundai Engineering with the Center for International Arbitration at the Austrian Federal Chamber of Commerce in Vienna, Grupa Azoty announced in a press release. The lawsuit includes claims with a total value of up to EUR 2.98 billion.

As reported, the case concerns the implementation of the agreement of May 11, 2019 regarding the comprehensive implementation of the Polimery Police Project.

The lawsuit covers claims with a total value of up to EUR 2.98 billion, resulting – according to the company – from the contractor's failure to fulfill contractual obligations, which resulted in the failure to complete the project.

“The lawsuit includes claims for payment of contractual penalties by the contractor for the delay in the implementation of the project and in connection with the withdrawal by Grupa Azoty Polyolefins from the contract for reasons attributable to the contractor, as well as for payment of compensation for losses incurred by Grupa Azoty Polyolefins as a result of improper performance of the contract by the contractor,” the statement said.

It was added that the lawsuit includes a request for the Arbitral Tribunal to order the contractor to remove defects in the works and defects in the delivered materials, equipment and documentation or to deliver items free from defects.

December 29 this year Grupa Azoty Polyolefins received a lawsuit filed by Hyundai Engineering, in which Hyundai Engineering pursues claims against the company in connection with the implementation and the contractor's declaration of withdrawal from the contract for the comprehensive implementation of the Polimery Police Project. (PAP Business)

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