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Port operator faces $21M in damages over buyout dispute


Associated Press

DOVER, Del. (AP) — A judge says the company that privatized operations at Delaware’s port owes more than $21 million in damages for breaching an agreement to buy the port’s former stevedoring firm. The judge on Monday also found GT USA Wilmington in contempt for using confidential information it obtained in the lawsuit filed by Murphy Marine Services to negotiate a deal with one of Murphy’s largest customers. The judge ruled that GT violated a binding agreement by refusing to negotiate a definitive purchase agreement with Murphy Marine. GT USA Wilmington is a subsidiary of port management company Gulftainer, based in the United Arab Emirates. It obtained the rights to operate the port for 50 years in exchange for upgrades and annual fees.

Article Topic Follows: AP National Business

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Associated Press


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