Frontline plc (“Frontline”) (NYSE: FRO — OSE: FRO), formerly Frontline Ltd., announces that the Emergency Arbitration claims filed by Euronav have been fully dismissed by the Emergency Arbitrator, reports Barron’s.
Emergency Arbitration proceedings
The decision was issued today, and in addition to fully dismissing the claims, orders Euronav to pay to Frontline all costs of the Emergency Arbitration proceedings, including full compensation for legal costs incurred.
This decision strengthens Frontline’s position that its decision to terminate the combination agreement was entirely lawful.
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Source: Barron’s
