DOVER, Del. (AP) — A Delaware judge has ruled against the company that privatized operations at the port of Wilmington several years ago in a dispute over a planned buyout of the port’s former stevedoring firm.
The judge ruled Friday that GT USA Wilmington is bound by the terms of a 2018 letter agreement regarding the purchase and sale of 100% of the equity interest of Murphy Marine Services.
He also ruled rejected GT’s argument that accounting firm KPMG should have considered the financial effect of privatization in its analysis of Murphy Marine’s value.
Copyright © 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.