They were able to snuff out TOP 'cos of the way the DOCA is framed. WICET had 1 year performance guarantees of about 36-37m, which they can call on (and have already done for part of it). Based on their creditor ranking WICET can receive 25k +the guarantee money! The contingent liability for WICET is 500m over the life of the contract. So COK is happy to pay out $37m and save $465m!
They were able to snuff out TOP 'cos of the way the DOCA is...
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