Global Crossing Sues Tyco

Global Crossing seeks over $1 Billion in suit against Tyco Submarine Systems.

May 23, 2000

1 Min Read

HAMILTON, BERMUDA -- Global Crossing Ltd. and its subsidiary, South American Crossing (Subsea) Ltd., today filed a lawsuit against Tyco Submarine Systems Ltd., a subsidiary of Tyco International Ltd., in the United States District Court for the Southern District of New York. Global Crossing is seeking damages in excess of $1 billion.

The complaint alleges tortious conduct and breach of contractual obligations related to Tyco's agreements to install the South American Crossing fiber-optic cable system and certain other projects. In addition, Global Crossing's subsidiary, Atlantic Crossing Ltd., together with certain of its affiliates, filed arbitration claims against Tyco for breaches of its obligations in connection with various contracts for the development of the AC-1 System.

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