Dewhurst says complaint against Hungarian subsidiary settled

22nd Jun 2015 11:03

Dewhurst said on Monday that a settlement has been reached between its Hungarian subsidiary and AIG Specialty Insurance.In January last year, the said Dewhurst subsidiary received a complaint from IAG claiming $7m after the purported product failure of a component it supplied to a third party.Dewhurst that said that the lawsuit has been dismissed and Dewhurst (Hungary) Kft and AIG have agreed a confidential full and final settlement of all claims arising from the dispute.Dewhurst said there will be no material impact on current market expectations for its results or future financial years.