News / US shipper MCS Industries settles court action against Cosco, but remains in legal action with MSC

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UPDATED 28 SEPTEMBER: CORRECTION ? MCS INDUSTRIES HAS ONLY SETTLED WITH COSCO, THE CASE REMAINS AGAINST MSC

Home décor supplier MCS Industries has settled its case against Cosco (CSL), although the terms of the agreement have not been made public.

MCS’s bid to have the settlement approved by the court says: “MCS and CSL, both sophisticated corporate entities, arrived at the settlement agreement through extensive, arm’s length negotiations that involved businesspeople and counsel on both sides, and CSL’s counsel has authorised the ...