Saturday, November 17, 2012

Evening Times corrects erroneous story about OPV compensation

The Evening Times in Scotland on Friday corrected a report published earlier in the week that stated that the Trinidad & Tobago government lost the arbitration matter with BAE systems and would have to pay BAE £130 million (TT$1.3 billion). 

The paper said it spoke with BAE and an official confirmed that BAE has agreed to compensate T&T. 

The story from the Evening Times is reproduced below:

BAE ships contract

The Evening Times yesterday reported that shipbuilder BAE Systems had won a £130million compensation battle with the Trinidad and Tobago Government after the Caribbean Republic had cancelled an order for three offshore patrol vessels.

We published the article after a spokeswoman for the defence contractor claimed it was to receive the cash payment.

However, BAE has in fact agreed to compensate the republic, which had cancelled the £150m order, after it claimed the delivery dates for all three ships were delayed and the combat system on two of them had failed during sea trials.
BAE Systems today declined to comment further on the result of the negotiations other than to confirm a "settlement" had been reached with the Trinidad and Tobago Government.

We are happy to clarify this here.

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Jai & Sero

Jai & Sero

Our family at home in Toronto 2008

Our family at home in Toronto 2008
Amit, Heather, Fuzz, Aj, Jiv, Shiva, Rampa, Sero, Jai