NRW ends dispute

NRW has a resolution to its long standing court case and it isn't good.

NRW’s long-standing contractual dispute with heavyweight Samsung has ended with a disappointing outcome for shareholders. Samsung has agreed to pay NRW $30m and both parties will abandon all further claims through the courts. In effect, Samsung has bullied its smaller peer into forgoing about $100m in cash payments, an outcome that should outrage investors (including your analyst).

In our view there is little basis for this underpayment from Samsung, which is reportedly losing about $1bn on the Roy Hill project. The giant is in dispute with several contractors over the same project and attempting to limit its losses.

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