Shares in London and Australia-listed Lochard Energy slumped Thursday on the back of news the company may have to pay up to $12.2 million in damages to energy services company Senergy UK after losing a court battle in London. Senergy launched the legal case against Lochard’s wholly owned subsidiary, Zeus Energy, following allegations that A$15.4 million worth of contracted work was not carried out by Zeus. A hearing in early 2012 will determine the exact amount Lochard will have to pay — although the company says it may appeal the ruling.
展开▼
