Oakwell Engineering

Oakwell Engineering: subsidiary, Oakwell Shipbuilding Engineering and Construction (OSEC) has filed a request for arbitration with the London Court of International Arbitration, claiming repeated breaches of a cooperation agreement by Fr. Fassmer GmbH & Co due to its repeated failures to discharge its obligations with all due skill and care. OSEC is claiming for costs and expenses to rectify and/or mitigate the breaches by Fassmer, refund of payments and fees made by OSEC under the cooperation agreement.