Norwegian court favors China Sunergy in REC supply dispute

A Norwegian court ruled in favour of China Sunergyvin its vwafer supply deal dispute with REC Wafer. REC Wafer is said to appeal the decision made by the Norwegian Court of Appeal.

According to a statement from China Sunergy, the contract entered into between REC SiTech AS and China Sunergy remained separate to REC Wafer, even though SiTech had been later amalgamated into REC Wafer due to a corporate reshuffle at REC Group.

Should the REC appeal fail, China Sunergy could be entitled to compensation and a US$50 million bank guarantee returned.

The dispute has been ongoing since 2009.