Texas Court Affirms Korean Shipbuilder's $3.5M Verdict

Law360, New York (July 26, 2012, 8:32 PM EDT) -- A Texas appeals court on Thursday affirmed a $3.5 million judgment against Daewoo Shipbuilding & Marine Engineering Co. Ltd., upholding a jury’s finding that the Korean company wrongfully refused to pay consultants who helped secure a $696 million contract to build supertankers.

The Fourteenth Court of Appeals held that the jury’s interpretation of an ambiguous agreement between Daewoo — the world's second largest shipbuilder — and ikanco Inc. that resulted in the judgment was appropriate.

“Because there was more than one reasonable interpretation of ... the...
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