Sembcorp Marine's subsidiary, Jurong Shipyard (JSPL), has on August 3, 2009 commenced an action in the High Court of Singapore against Societe General ("SG") to recover a sum of US $198.9 million.
The breakdown of the claims is as follows:
JSPL remains of the view that the Unauthorized Transactions were not valid and binding on JSPL, and is pursuing its right to claim for a refund of the monies from SG.
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