Huntsman Corp. (HUN) said a New Orleans jury awarded it $94 million in the company's case against Praxair/Linde. The company noted that the case against Praxair was first filed in 2014 but owing to Covid-19 among other matters, did not go to trial until this April. The case was filed after Praxair refused to properly maintain its own Geismar facility and then repeatedly failed to supply Huntsman's requirements for industrial gas under long-term supply contracts that expired in 2013.
Huntsman said the 12-person jury unanimously found that Praxair repeatedly breached its promises to Huntsman and that those breaches directly caused Huntsman substantial financial damages. After the Court applies the appropriate amount of interest, total damages awarded will exceed $125 million.
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