It covered a breach of a technical services and management consulting agreement in 2015.
Noble Group Limited said Indonesian coal producer PT Alhasanie, a subsidiary of PT Atlas Resources Tbk, has dropped its lawsuit filed in July and against Noble’s subsidiary PT Pinang Coal Indonesia (PT PCI) and PT McMahon Mining Services. It was seeking damages in excess of US$20m from PT PCI.
According to an announcement, PT Alhasanie withdrew the lawsuit against PT PCI on 29 October 2018. The lawsuit concerned the alleged breach of a technical services and management consulting agreement made on 30 June 2015.
PT PCI had earlier submitted its own claim against PT Alhasanie under the agreement to Singapore arbitration, which is the contractually agreed forum for determination of all disputes thereunder.
“For reasons of confidentiality, the company is unable to disclose further details of PT PCI’s claim,” Noble added.
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