Hyundai Sues Thailand Fertilizer Company

The responsibility and liability for fully completing a project by the agreed-upon deadline has sparked an international lawsuit.
Hyundai Construction and Hyundai Engineering on January 4 filed a lawsuit in Seoul District Court against Thailand's National Fertilizer Company(NFC). In the suit, Hyundai stated that it was improper for NFC to demand 36 million dollars in penalty fees from Hyundai's insurer for the project, Japan's Mitsubishi Bank.
Hyundai asserted, 'The reason why the completion of the fertilizer factory plant was delayed was not because of our neglect but because the NFC asked for frequent design alterations.'
Hyundai formed a consortium with the Mitsui Project Service in 1994 to build a fertilizer plant worth 230 million dollars in Thailand but final construction was completed a year overdue.
NFC has already sued Hyundai for 100 million dollars in compensation stemming from the delay while Hyundai counter-sued NFC for 83 million dollars.