Law360, New York (August 08, 2011, 2:17 PM ET) -- The Shaw Group Inc. said Monday it had accepted a $32.5 million arbitration award to resolve a dispute with an unnamed customer over a contract for engineering and constructing a steam turbine power plant in the U.S.
Shaw, based in Baton Rouge, La., said the arbitration settles force majeure, schedule-related liquidated damages and other claims related to the contract for building a 600-megawatt plant in the U.S. Force majeure clauses in contracts excuse a party for delays caused by conditions beyond its control.
The company declined...
Shaw Awarded $32.5M In Power Plant Contract Fight
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