LDK claims arbitration win in Canadian Solar contract dispute

LDK Solar appears to have come out on top after a long-simmering legal dispute with Chinese rival Canadian Solar, with a duo of long-term wafer supply contracts signed between the two five years ago to be enforced at the original terms.

In 2007 and 2008 Canadian Solar signed two 10-year wafer supply contracts with LDK, one of the world’s biggest producers, at a time when the PV business was booming and many downstream manufacturers deemed it necessary to lock themselves into long-term arrangements.

By 2010, however, the winds had started changing, and Canadian Solar attempted to wriggle out of the deals – while also clawing back a 60m yuan ($9.6m) deposit it had made on them.

But LDK says that yesterday, the China International Economic and Trade Arbitration Commission ruled that the deals are Log in to read complete article.

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