Milan Court Partially Upholds Indian MoD Complaint In AgustaWestland Contract

  • Our Bureau
  • 07:46 AM, May 24, 2014
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Milan Court Partially Upholds Indian MoD Complaint In AgustaWestland Contract

AgustaWestland today announced that the Court of Milan partially upheld the complaint lodged by the
Indian Ministry of Defence, and thereby revoked the order issued by the judge on last March 17.

The order pertains to the seeking of emergency interim lodged by AgustaWestland to resist the calling of certain first demand bank guarantees provided with reference to the contract for the supply of 12 helicopters AW 101
VVIP/VIP for an amount of EUR 228 million maximum against a call seeking to cash EUR 278 million.

AgustaWestland will assert its rights to recover the aforesaid amounts in the arbitration process
already initiated.

With reference to the forecasts of the Finmeccanica Group for 2014, it is to be noted that - as already
announced on last 19 March - they did not include negative developments occurring regarding the
said contract.

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