Pieridae Energy Ltd T.PEA

Major Supplier Sues Pieridae for Non Payment

[commonsense9]

It was in today's allNovaScotia onine paper. Very tight paywall, no link to even post. Government and all corporate movers and shakers of NS subscribe.

The supplier is Wood Canada (formerly AMEC), who filed in NS Supreme Court they have not been paid since July 8.  These folks have done ALL the engineering and cosulting except the plant itself for 8 years now. Its the only relationship they have for the millions and millions of regulatory work- that is not over.

So if they cant even keep these people quiet....

[commonsense9]

The claim and lien are only for $800k- and they could not keep that out of court? Who is next? They also burned KBR- which gets around. Not without some provocation: KBR did withdraw (replaced by Bechtel). After doing that KBR knew they were never going to get fully paid for work done till the- even though PEA owns and controls all that work (handed over to Bechtel). Word is that PEA refused to

[BigFanLNG2018]

Pieridae defaulted on their lump sum contract with KBR.  Imagine that.  They entered into a  15million-ish contract to negotiate a $10 billion fixed fee contract, and defaulted.  Who in their right mind would enter into any contract with Pieridae.  Just look at the financials.  Their accounts payable is $100 MM+.  Word on the street is that they're 6 months