You are here

Lawsuit filed in Indonesia against Noble Group subsidiary

A LAWSUIT which is seeking damages of over US$20 million from a subsidiary of Noble Group has been filed in the District Court of South Jakarta by PT Alhasanie, which is a subsidiary of PT Atlas Resources Tbk.

The lawsuit is against both Noble's unit, PT Pinang Coal Indonesia (PCI), and PT McMahon Mining Services, which is not related to Noble.

In a filing to the Singapore Exchange on Wednesday, Noble said that the lawsuit was served on PT PCI on July 9 and is related to the alleged breach of a technical services and management consulting agreement dated June 30, 2015.

Noble said: "The company is of the view that the lawsuit is completely without merit. PT PCI is not liable as alleged or at all, and will defend the claim vigorously. It appears the lawsuit was filed as a response to a legal demand which PT PCI's external solicitors had sent to PT Alhasanie previously."

It added that PT PCI will be submitting its claim to Singapore arbitration.

sentifi.com

Market voices on: