Sanctioned Chinese company takes on Swiss firm in ‘landmark’ action against foreign ‘bullying’ and ‘long-arm jurisdiction’
The case centred on a 2023 subcontract between an unnamed Chinese company based in Shandong and a Swiss marine equipment firm.
The Swiss firm contracted the Chinese company to build modules for a floating production, storage and offloading vessel used to process, store and transfer oil at sea.
The contract was valued at US$19.45 million and the Swiss firm paid more than US$7 million in initial payments.
