A company controlled by Ukrainian billionaire Kostyantyn Zhevago has been ordered to pay Norwegian owner Boa Offshore around $12m in a newbuilding cancellation row.
Zhevago's Luxembourg holding company Fevamotinico had been contesting a 2017 arbitration award relating to the cancellation of a ship at Noryards Fosen in Norway.
The Norwegian Supreme Court's appeals committee has denied the appeal and decided that Fevamotinico should also pay legal costs of NOK 81,000 ($8,800) to the owner's subsidiary Boa IMR.
