Great Lakes Dredge & Dock Co has pulled back the curtain on issues at Hanwha Ocean takeover target Philly Shipyard.
In a lawsuit filed in US federal court this week, the Texas-based dredging contractor alleged that the beleaguered Kristian Rokke-backed shipbuilder was diverting resources from its $197m subsea rock installation vessel (SRIV) to government-backed projects.
The complaint, filed in the US court for the Eastern District of Pennsylvania, read: “Great Lakes’s patience has reached its end, because it recently became apparent that Philly’s pattern of false promises, failure to take seriously its contractual commitments and breaches of the [vessel construction agreement] threatened to irreparably harm Great...
