Montréal, November 2, 2018
Support Contract with Churchill Falls: Favorable Decision from the Supreme Court of Canada
Hydro-Québec is satisfied with the decision rendered today by the Supreme Court of Canada. The highest court in Canada finds for Hydro-Québec and affirms that the price established in the 1969 contract does not need to be renegotiated as CF(L)Co requested.
This is the third time that the Supreme Court of Canada has been asked to rule on the 1969 contract, and it has found once again that Hydro-Québec acted in good faith in the negotiation and administration of the contract.
The two parties have invested significant resources in these legal proceedings. Hydro-Québec hopes that this Supreme Court decision will put an end to the disputes and herald the beginning of a new era of cooperative relations between the two parties.
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