$Seatrium Ltd (5E2.SG)$ Seatrium has agreed to pay a further...

Seatrium has agreed to pay a further US$68 million in full and final settlement of a rig-building dispute with Akastor of Norway after earlier not accepting the other party’s calculation of interest due, bringing the total amount to be stumped up to more than US$175 million.

The companies have now agreed that Seatrium will pay a further US$68 million - on top of the original US$101 million penalty imposed by the arbitration panel and other costs such as legal fees - as full and final settlement. The US$68 million will be paid before end- Jun, Akastor said on Tue.