Friday, January 09, 2009

Kuwait ready to counter legal action by Dow to avoid break fee of up to US$2.5 bln

Kuwait seems to be prepared to counter any legal action by Dow Chemical to avoid paying a break fee of up to US$2.5 bln. This situation has arisen because of cancellation of a petrochemicals joint vennture by Kuwait with Dow after parliament voiced opposition, just weeks after signing the deal.

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