Not vested.
ST Engineering says customer cancels $141 mln shipbuilding dealSINGAPORE, March 19 (Reuters) - Singapore Technologies Engineering , a defence contractor and aircraft maintenance firm, said on Saturday a customer has terminated a shipbuilding contract worth S$179 million ($141 million).
Louis Dreyfus Armateurs (LDA) in its notice
alleged that there is a delay in the delivery of the vessel and that even if the vessel is tendered for delivery there will be
deficiency in the deadweight capacity, ST Engineering said in a statement.
If the cancellation of the deal to build a roll-on/roll-off passenger ferry for LDA is valid, ST Engineering's ST Marine unit
will have to repay S$129 million in milestone payments received so far plus interest.
The unit may also be liable for
damages capped at 10 percent of the contract price. ST Marine has referred the matter to its legal advisers, the statement said.
http://www.reuters.com/article/2011/03/ ... 5820110319
It's all about "how much you made when you were right" & "how little you lost when you were wrong"