Providence successfully defends legal bill associated with long running legal battle
Published 21/10/2016 | 09:49
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.