Shaw has received a favorable ruling from the Taiwan High Court related to Taiwan Power Company's Lungmen Nuclear Power Project.
Shaw received formal notice of the High Court's ruling Jan. 5, 2011, which affirmed an arbitration award that ordered Taiwan Power Company to pay Shaw approximately $27 million in damages for increased costs caused by Taiwan Power Company. The court also dismissed Taiwan Power Company's counterclaims in their entirety.
The High Court ruling follows a unanimous favorable decision from the Arbitration Association of the Republic of China and a favorable ruling from the Taipei District Court, which also dismissed all claims from Taiwan Power Company.
Shaw has an engineering support contract at the Lungmen ABWR project, which is currently under commissioning.