NCL International Logistics, or NCL, disclosed that the Supreme Court has issued an order refusing to allow the plaintiff's appeal, bringing a lawsuit worth 23.07 million baht to an end, with the company, as the third defendant, bearing no liability under the claim. Admiral Atthaphon Phetchai, Chief Executive Officer, reported this progress to the Stock Exchange of Thailand. In this case, the Court of First Instance had ruled on 5 September 2023 that NCL deliver the original bill of lading and pay principal plus interest of 23.07 million baht, before the Court of Appeal reversed the ruling and dismissed the case on 19 November 2024, and the Supreme Court ultimately dismissed the petition and refused to accept the plaintiff's appeal. The company had previously set aside a provision of 23.07 million baht for this case and is assessing the accounting impact and the approach to reversing the entry under financial reporting standards. In addition, NCL has also cleared another dispute worth 25.08 million baht, in which the Supreme Court likewise issued an order refusing to allow the plaintiff's appeal. Combined, the two cases will see the company record an accounting reversal of approximately 48 million baht by the end of this year, which is expected to turn its overall second-half performance positive.
NCL International Logistics Public Company LimitedSupreme Court rejected the plaintiff's appeal, clearing NCL of 23.07 million baht liability and enabling a ~48 million baht provision reversal that should turn H2 results positive.
