NewLead (NEWL) Reports 3rd Favorable Arbitration Against TMT Bulk
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NewLead Holdings Ltd. (Nasdaq: NEWL) has recently received a third favorable arbitration award against TMT Bulk Corp. for $1,334,663.26 plus interest. The total amount awarded to date, under the three interim arbitration awards, is $5,267,488.34 plus interest.
As of November 12, 2011, the total outstanding amount owed by TMT to NewLead including the aforementioned awarded amount was approximately $9,300,000 exclusive interest and costs. Currently, a total amount of approximately $10,200,000 is held as security for the Company's claims against TMT.
As of November 12, 2011, the total outstanding amount owed by TMT to NewLead including the aforementioned awarded amount was approximately $9,300,000 exclusive interest and costs. Currently, a total amount of approximately $10,200,000 is held as security for the Company's claims against TMT.
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