Nera Telecommunications (NeraTel) says it has received a statutory notice of demand to pay Sandvine Corporation the sum of CA$975,374.05 ($1.033 million) on Oct 29.
This follows discussions with Sandvine in relation to contractual disputes between both parties for the provision of equipment and services by Sandvine to NeraTel.
See: Nera Telecommunications sees 33.6% lower group revenue of $22.8 mil in 1Q21
On Sept 21, NeraTel announced that the tribunal had previously dismissed its claims as well as Sandvine’s counterclaim, and ordered NeraTel to pay costs to Sandvine of around $1.033 million.
The sum will be accounted for in the FY2021, which is expected to have a material impact on NeraTel’s results for the period.
Shares in NeraTel closed 0.2 cent higher or 1.34% up at 15.1 cents on Oct 29.
See also: Singtel denies report it is 'exploring options' over Australia unit
Photo: Stock photo
