At the last conference call MFN stated that they had a mediation meeting at the end of July in NY and expected to get a settlement proposal from Ausenco shortly. MFN was sitll in binding arbitration with Ausenco for two breach of contracts (construction mgmt & engineering services) Each has a maximum risk to Ausenco of $5M. I guess there really is very little incentive to settle before they have to.

Since then I haven't heard a peep about the outcome of any of this. I have to assume that MFN rejected Ausenco's proposal and they went back to arbitration. Has anyone heard any updates on this during the quarter?

They will have to give some kind of update either in the earnings announcement or someone will ask about it at the conference call. The legal system can move at a snails pace at times.

Best of Luck...