Raytheon [RTN] on Aug. 18 said that a British arbitration panel ruled in favor of its protest of a border security contract that was terminated for default by the United Kingdom Home Office in 2010, adding the arbitration award totals $392 million. The Arbitration Tribunal award includes $309 million for damages and other monetary relief and $83 million related to the Home Office’s wrongful retention of funds it had drawn on Raytheon UK’s letters of credit in April 2011, less…
U.K. Panel Rules For Raytheon To Tune Of $392 Million In e-Borders Dispute
Defense Daily Staff
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