50DN Wells Fargo 24

TIDM50DN

RNS Number : 1252U

Samsung Heavy Industries Co., Ltd

16 December 2011

Court Ruling on Lawsuit, etc. (Claim for Contribution)

 
1. Title of Lawsuit                          Claim for Contribution 
===========================================  ====================================== 
2. Plaintiff (Claimant)                      IOPC 1992 (International Oil Pollution 
                                              Compensation 
                                              Fund 1992) 
===========================================  ====================================== 
3. Details of Court Decision                 Claim Dismissed 
===========================================  ====================================== 
4.Amounts 
 in Controversy 
 of the           Amounts in Controversy 
 Judgment          (KRW)                                            276,600,000,000 
================  =========================  ====================================== 
 Equity Capital(KRW)                                              3,816,300,000,000 
 ==========================================  ====================================== 
 Ratio to Equity 
  Capital(%)                                                                   7.25 
 ==========================================  ====================================== 
 If Classified as                                             Yes 
  a 
  Large-scale Corporation 
 ==========================================  ====================================== 
5. Rationale for Court Decision              Lack of jurisdiction for the cause 
                                              of action of contribution initiated 
                                              by IOPC 1992 
===========================================  ====================================== 
6. Competent Court                           Ningbo Maritime Affairs Court, China 
===========================================  ====================================== 
7. Actions to be taken                       - 
===========================================  ====================================== 
8. Date of Court Decision                    2011.11.24 
===========================================  ====================================== 
9. Date Confirmed                            2011.12.16 
===========================================  ====================================== 
 
10. Other references useful                  1) The aforementioned Item No. 4 
 for making investment decisions              Amounts in 
                                              Controversy (USD 200,000,000) is 
                                              based on the 
                                              amount of former disclosure dated 
                                              '09.01.29. 
 
                                              2) The aforementioned Item No.4 
                                              Equity Capital 
                                              represents the equity capital amount 
                                              as of end of 2010 
===========================================  ====================================== 
 

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