ASX SAMSUNG SETTLEMENT 11/10/2015 NRW has resolved the dispute...

ASX SAMSUNG SETTLEMENT
11/10/2015

NRW has resolved the dispute with Samsung C&T (Samsung) on the Roy Hill Rail Project. The key terms of the settlement are;

• Samsung to pay NRW $30M (which has been receipted), in full and final settlement.
• All litigation actions through the WA courts and Singapore Arbitration process are
  being withdrawn.
• Neither NRW nor Samsung are entitled to any further claims in respect of contractual
  claims, liquidated damages or any other back charges.
• Practical Completion has been granted as part of the settlement.
  The settlement sum is broadly in line with the accounting position recognised in the accounts for the year ending 30th June 2015.
  Commenting on the settlement NRW’s Chief Executive Officer & Managing Director Jules Pemberton said, “Our objective throughout this process has been to agree a fair commercial settlement with Samsung.”
  “Our FY15 accounts recognised the importance of concluding an agreement and securing the resulting cash inflow from that agreement. This agreement avoids continued negotiations, the contractual arbitration process and the legal cost of pursuing that process, all of which have no certainty of outcome.”
  “Given the protracted nature of the discussions and dispute resolution process with Samsung C&T, this settlement allows us to rule a line under the issue, provides the company with improved financial capability and enables management to focus fully on successful delivery of our current projects and on securing new work” Kim Hyman, Company Secretary.

This statement was given out by NWH and there is no mention of any bond being returned. I was hoping for the bond plus $30 mil but i dont think it occured.