The Taiwan Ministry of National Defence (MND) has received $875m from Thales as part of a court-ordered fine payment settlement over a long-running Lafayette frigate deal between the company and Taiwan.

The payment follows an April 2010 order issued by the international commercial arbitration court against the French defence company for paying unauthorised commissions in relation to a deal for six Lafayette frigates to Taiwan, signed in 1991.

The payment includes a fine, interest, litigation fees and other related expenses that have built up over more than ten years of legal wrangling between the two parties.

Taiwan MND spokesman Lo Shao-ho said the commercial dispute would not affect military cooperation between the two nations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The payment will be transferred to the state treasury.