The ongoing wafer supply deal dispute between China Sunergy and REC Wafer entered a new phase with a Norwegian court ruling in favour of China Sunergy. REC Wafer is said to appeal the decision made by the Norwegian Court of Appeal.
According to a statement from China Sunergy, the contract entered into between REC SiTech AS and China Sunergy remained separate to REC Wafer, even though SiTech had been later amalgamated into REC Wafer due to a corporate reshuffle at REC Group.
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Should the REC appeal fail, China Sunergy could be entitled to compensation and a US$50 million bank guarantee returned.
The dispute has been ongoing since 2009.
