Called NXS on this, although it came as a 'suprise' and looked serious and clinical in the Announcement, it has always been factored into any plans. That said, NXS are confident they have no case to answer as Transocean canceled the contract, not NXS. If they had concerns about payment (and you would expect with such an expensive contract in that economic climate) then it should have been negotiated as an additional term /g'tee rather than a simple termination. If Transocean cancelled the contract 'without casue' due to suspicion of payment default, that is hardly a risk that should be burdened on NXS way after the fact.
Maybe a case of beer and a new contract for work is the solution.
Ann: Nexus Receives Statement of Claim , page-38
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