Boeing sues Sea Launch partners
Posted: Tue, Feb 5, 2013, 6:34 AM ET (1134 GMT)
Boeing has filed suit against its Russian and Ukrainian partners in the Sea Launch venture for over $350 million, saying the companies need to reimburse it for its investment in the commercial launch firm. In a suit filed in federal court in Los Angeles, Boeing alleges that RSC Energia and Yuzhnoye SDO reneged on an agreement to compensate Boeing for its investment in Sea Launch if the company failed. The original Sea Launch, a venture jointly owned by Boeing, Energia, Yuzhnoye, and Norwegian shipbuilder Aker, filed for Chapter 11 bankruptcy protection in 2009. The reorganized Sea Launch is now 95-percent owned by Energia, with Boeing and Aker holding the remaining 5 percent. Boeing claimed in the suit that Energia and Yuzhnoye failed to honor an agreement to compensate Boeing for its "fair share" of its Sea Launch investment, valued at just over $350 million. Boeing filed the suit Friday, just after Sea Launch suffered a launch failure.
Boeing has filed suit against its Russian and Ukrainian partners in the Sea Launch venture for over $350 million, saying the companies need to reimburse it for its investment in the commercial launch firm. In a suit filed in federal court in Los Angeles, Boeing alleges that RSC Energia and Yuzhnoye SDO reneged on an agreement to compensate Boeing for its investment in Sea Launch if the company failed. The original Sea Launch, a venture jointly owned by Boeing, Energia, Yuzhnoye, and Norwegian shipbuilder Aker, filed for Chapter 11 bankruptcy protection in 2009. The reorganized Sea Launch is now 95-percent owned by Energia, with Boeing and Aker holding the remaining 5 percent. Boeing claimed in the suit that Energia and Yuzhnoye failed to honor an agreement to compensate Boeing for its "fair share" of its Sea Launch investment, valued at just over $350 million. Boeing filed the suit Friday, just after Sea Launch suffered a launch failure.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
Apex becomes billion-dollar company with $200 million Series D round
Posted: Sun, Sep 14 4:09 AM ET (0809 GMT) |
|
news links
|
|
Wednesday, September 17
Falcon 9 launch of Starlink satellites scheduled for Wednesday morning
KEYT-TV Santa Barbara, CA — 1:34 am ET (0534 GMT) Colorado Springs springs into action amid loss of Space Command
Washington Times — 1:34 am ET (0534 GMT) SpaceX rocket-launching license survives NEPA challenge
POLITICO — 1:30 am ET (0530 GMT) SpaceX Eyes First Starship Version 3 Launch In ’25 Or ’26
Aviation Week — 1:29 am ET (0529 GMT) Judge dismisses suit challenging SpaceX's Starship approval
Houston Chronicle — 1:28 am ET (0528 GMT) |
