SINGAPORE (Aug 17): Otto Marine on Tuesday announced that its wholly owned subsidiary, Otto Ventures (OVPL), has successfully defended itself in arbitration proceedings against claims of US$8.88 million ($11.9 million) in damages.
In its filing to the exchange, Otto Marine says that the Singapore International Arbitration Centre had dismissed the claims in their entirety, and ordered the claimants to bear all costs and expenses incurred by OVPL in the course of the arbitration.
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