June 9, 2011 defpro.com
Thales has been notified of the decision of the Paris Court of Appeal on 9 June 2011, rejecting the petition filed by the company to set aside the award handed down on 3 May 2010 in the arbitration against the Republic of China (Taiwan), in relation to the procurement of six Lafayette-class frigates.
This decision will lead Thales to disburse an amount of about 170 million euros, or 27.46% of the total, corresponding to its industrial share in the supply contract.
The decision of the Court of Appeal is enforceable. Amounts due by Thales will therefore be paid by the company as soon as possible. This payment will be neutral on the company's financial results, as this litigation had already been full provisioned in previous years.