Georgia agrees to pay Elbit $35m. in settlement deal
By GLOBES, JPOST.COM STAFF
December 29, 2011 12:14
Elbit Systems Ltd. announced Thursday that the government of Georgia agreed in a settlement deal to pay it approximately $35 million. As part of the agreement, Georgia will also return to Elbit certain equipment and subsystems.
Elbit announced in April 2011 that it was suing the Georgian government for $100 million as a result of the government's failure to uphold a 2007 contract.
Elbit Systems said that the settlement brings to a close the lawsuit between the parties.