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Canadian court orders NOVA Chemicals to pay Dow an additional CAD$1.6 billion judgment

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The Court of King's Bench of Alberta has ordered NOVA Chemicals to pay Dow (NYSE: DOW) an additional CAD$1.62 billion (USD$1.2 billion) in damages related to a jointly owned ethylene asset in Joffre, Alberta. The judgment stems from NOVA's failure to operate the facility at full capacity and breach of contractual obligations since 2001, which reduced ethylene supply to Dow. This ruling follows a previous 2019 payment of CAD$1.43 billion (USD$1.08 billion) by NOVA to Dow. The new damages include interest until April 7, 2025, with payment expected in Q4 2025. The court had directed recalculation of damages for periods 2001-2012 and 2013-June 2018. The judgment remains subject to appeal.
La Corte di King's Bench dell'Alberta ha ordinato a NOVA Chemicals di pagare a Dow (NYSE: DOW) un ulteriore importo di 1,62 miliardi di CAD (1,2 miliardi di USD) a titolo di danni relativi a un bene comune di etilene situato a Joffre, Alberta. La sentenza deriva dal mancato funzionamento dell'impianto a piena capacit脿 da parte di NOVA e dalla violazione degli obblighi contrattuali dal 2001, che ha ridotto la fornitura di etilene a Dow. Questa decisione segue un precedente pagamento del 2019 di 1,43 miliardi di CAD (1,08 miliardi di USD) effettuato da NOVA a favore di Dow. I nuovi danni comprendono gli interessi fino al 7 aprile 2025, con pagamento previsto nel quarto trimestre del 2025. Il tribunale ha ordinato la ricalcolazione dei danni per i periodi 2001-2012 e 2013-giugno 2018. La sentenza 猫 ancora soggetta ad appello.
El Tribunal de King's Bench de Alberta ha ordenado a NOVA Chemicals pagar a Dow (NYSE: DOW) un monto adicional de 1.620 millones de CAD (1.200 millones de USD) en da帽os relacionados con un activo conjunto de etileno en Joffre, Alberta. La sentencia se deriva del incumplimiento de NOVA de operar la planta a plena capacidad y de violar las obligaciones contractuales desde 2001, lo que redujo el suministro de etileno a Dow. Esta resoluci贸n sigue a un pago previo en 2019 de 1.430 millones de CAD (1.080 millones de USD) realizado por NOVA a Dow. Los nuevos da帽os incluyen intereses hasta el 7 de abril de 2025, con el pago previsto para el cuarto trimestre de 2025. El tribunal orden贸 recalcular los da帽os para los per铆odos 2001-2012 y 2013-junio de 2018. La sentencia est谩 sujeta a apelaci贸n.
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La Cour King's Bench de l'Alberta a ordonn茅 脿 NOVA Chemicals de verser 脿 Dow (NYSE : DOW) un montant suppl茅mentaire de 1,62 milliard de dollars canadiens (1,2 milliard de dollars am茅ricains) en dommages-int茅r锚ts li茅s 脿 un actif d'茅thyl猫ne en copropri茅t茅 situ茅 脿 Joffre, Alberta. Le jugement d茅coule du manquement de NOVA 脿 exploiter l'installation 脿 pleine capacit茅 et de la violation des obligations contractuelles depuis 2001, ce qui a r茅duit l'approvisionnement en 茅thyl猫ne de Dow. Cette d茅cision fait suite 脿 un paiement ant茅rieur de 1,43 milliard de dollars canadiens (1,08 milliard de dollars am茅ricains) effectu茅 par NOVA 脿 Dow en 2019. Les nouveaux dommages incluent les int茅r锚ts jusqu'au 7 avril 2025, avec un paiement pr茅vu au quatri猫me trimestre 2025. Le tribunal avait ordonn茅 un recalcul des dommages pour les p茅riodes 2001-2012 et 2013-juin 2018. Le jugement reste susceptible d'appel.
Das King's Bench-Gericht von Alberta hat NOVA Chemicals angewiesen, Dow (NYSE: DOW) zus盲tzliche Schadensersatzzahlungen in H枚he von 1,62 Milliarden CAD (1,2 Milliarden USD) im Zusammenhang mit einem gemeinsam genutzten Ethylen-Anlage in Joffre, Alberta, zu leisten. Das Urteil basiert auf NOVAs Vers盲umnis, die Anlage seit 2001 mit voller Kapazit盲t zu betreiben, und der Verletzung vertraglicher Verpflichtungen, was die Ethylenversorgung von Dow reduzierte. Dieses Urteil folgt einer fr眉heren Zahlung von 1,43 Milliarden CAD (1,08 Milliarden USD) durch NOVA an Dow im Jahr 2019. Die neuen Schadensersatzforderungen beinhalten Zinsen bis zum 7. April 2025, die Zahlung ist f眉r das vierte Quartal 2025 vorgesehen. Das Gericht hatte eine Neuberechnung der Sch盲den f眉r die Zeitr盲ume 2001-2012 und 2013 bis Juni 2018 angeordnet. Das Urteil ist noch anfechtbar.
Positive
  • Additional CAD$1.62 billion (USD$1.2 billion) award in Dow's favor
  • Expected significant cash inflow in Q4 2025
  • Successful legal outcome following previous CAD$1.43 billion award in 2019
Negative
  • Final payment subject to potential appeal by NOVA Chemicals
  • Payment not expected until Q4 2025
  • Indicates long-term operational issues with joint venture partner

MIDLAND, Mich., June 11, 2025 /PRNewswire/ --听The Court of King's Bench of Alberta, Canada has issued a judgment ordering NOVA Chemicals Corporation to pay 听(狈驰厂贰: DOW) an additional amount of CAD$1.620 billion (equivalent to approximately USD$1.2 billion)听in damages. The judgment, signed on June 10, 2025, relates to losses Dow incurred from the companies' jointly owned ethylene asset in Joffre, Alberta, Canada. The award includes interest to April 7, 2025, but excludes subsequent interest or legal costs. Payment is anticipated to occur in the fourth quarter of 2025.

This latest ruling and award of damages to Dow is in addition to a prior payment by NOVA to Dow of CAD$1.43 billion (approximately USD$1.08 billion) in damages in 2019 following a June 2018 decision. That decision found NOVA had failed to operate the jointly owned ethylene asset at full capacity and had breached contractual obligations since 2001, resulting in reduced ethylene to Dow. On appeal, the court directed that Dow's damages be recalculated for the period from 2001 through 2012, as well as for the period from 2013 through June 2018, which had not yet been quantified.

The judgment is subject to appeal.

About Dow
Dow (NYSE: DOW) is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications.听Our global breadth, asset integration and scale, focused innovation, leading business positions and commitment to sustainability enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 30听countries and employ approximately听36,000听people. Dow delivered sales of approximately听$43 billion听in 2024. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us and our ambition to be the most innovative, customer-centric, inclusive and sustainable materials science company in the world by visiting .

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Glynna Mayers
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庐罢惭 Trademark of The Dow Chemical Company ("Dow") or an affiliated company of Dow

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SOURCE The Dow Chemical Company

FAQ

How much additional money will Dow receive from NOVA Chemicals in the latest court ruling?

NOVA Chemicals has been ordered to pay Dow an additional CAD$1.62 billion (approximately USD$1.2 billion) in damages.

When is NOVA Chemicals expected to pay the CAD$1.62 billion judgment to Dow?

The payment is anticipated to occur in the fourth quarter of 2025.

What was the reason for the lawsuit between Dow and NOVA Chemicals?

The lawsuit was due to NOVA's failure to operate a jointly owned ethylene asset at full capacity and breach of contractual obligations since 2001, which reduced ethylene supply to Dow.

How much did NOVA Chemicals previously pay to Dow in damages?

NOVA previously paid Dow CAD$1.43 billion (approximately USD$1.08 billion) in damages in 2019.

Is the latest court judgment against NOVA Chemicals final?

No, the judgment is subject to appeal.
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