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Providence successfully defends legal bill associated with long running legal battle

Oil and gas explorer Providence Resources has claimed victory in defending a legal bill for costs associated with a long running legal case.

The Irish company lost the original case brought against it by Transocean Drilling – with the judge ordering Providence to pay $7m to its former drill partner.
Providence had also guided that total it’s share of costs could see the final bill rise by a further $3.90m.

At the High Court in London however, Providence secured a favourable judgment in respect of its share of Transocean’s costs.
The final bill to the Irish company will be £1.10m (€1.2m), Providence said today.

Article Source: http://tinyurl.com/kbwqb42

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