Daewoo Pays US $51M Over Palau Road Project

Law360, New York (October 21, 2010, 4:07 PM EDT) -- Daewoo Engineering and Construction Co. Ltd. has paid the U.S. government $51.2 million to satisfy a 2006 court judgment that the contractor submitted a fraudulent claim to the U.S. Army Corps of Engineers over a road project in the Pacific island nation of Palau.

The $51.2 million judgment in the U.S. Court of Federal Claims, which was upheld on appeal in February 2009, was the largest counterclaim judgment in the history of the Corps, the agency said Wednesday.

The dispute arose from a contract Daewoo obtained...
To view the full article, register now.