International Container Terminal Services Inc., the global port operator of tycoon Enrique Razon Jr., said its unit, ICTSI Oregon Inc., has reached a settlement with International Longshore and Warehouse Union on all legal claims.
As a result of the settlement, ICSTI will receive payment of USD20.5 million.
The settlement resolved Philippine Stock Exchange-listed ICTSI claim against ILWU, which has been pending for a decade with a district court in Oregon. A jury determined that ILWU and ILWU 8 engaged in unlawful labor practices.
The litigation had been set for a retrial on damages but was stayed because of ILWU’s and Local 8’s bankruptcy cases on 30 September 2023 and 18 October 2023, respectively.
The settlement arises from the parties’ participation in several days of mediation during ILWU’s chapter 11 bankruptcy case, which will be voluntarily dismissed as part of the terms of the settlement.
