Boeing Sues Yuzhnoye, Energia Over Sea Launch Reimbursements
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Boeing Co. sued Ukraine’s Yuzhnoye SDO and Russia’s S.P. Korolev Rocket and Space Corp. Energia, alleging they owe $350 million in reimbursements for Boeing’s investments in their failed Sea Launch Co. joint venture.
The two companies breached a contractual commitment to pay, if Sea Launch failed, their fair share of the funding Boeing Commercial Space Co. provided to create and operate the venture they set up in 1995 to launch commercial satellites from an ocean-based platform, according to a complaint filed Feb. 1 in federal court in Los Angeles.