John Fredriksen-backed Northern Drilling is set to appeal against an arbitration award it lost to South Korean shipbuilder Hanwha Ocean.
The Oslo-listed company said it would “seek leave to appeal” the awards on a “point of law” and to challenge the awards on grounds of “serious irregularity”.
“As a general rule, there are limited grounds to appeal arbitration awards, and permission of the court will be required for an appeal on a point of law to be made,” Northern Drilling chief executive Scott McReaken said.
