Business Irish

Thursday 30 March 2017

Providence successfully defends legal bill associated with long running legal battle

The Irish company lost the original case brought against it by Transocean Drilling
The Irish company lost the original case brought against it by Transocean Drilling
Donal O'Donovan

Donal O'Donovan

Oil and gas explorer Providence Resources has claimed victory in defending a legal bill for costs associated with a long running legal case.

The Irish company lost the original case brought against it by Transocean Drilling - with the judge ordering Providence to pay $7m to its former drill partner.

Providence had also guided that total it's share of costs could see the final bill rise by a further $3.90m.

At the High Court in London however, Providence secured a favourable judgment in respect of its share of Transocean's costs.

The final bill to the Irish company will be £1.10m (€1.2m), Providence said today.

Online Editors

Promoted articles

Also in Business